Oligopoly pricing differs from pricing in other market structures. The essential difference is
a. relatively high fixed costs associated with oligopoly
b. brand loyalty of consumers
c. use and effect of advertising
d. difference between concentration ratios and HHI
e. mutual interdependence of firms
E
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"The price level may fall but it will not necessarily lower the interest rate, not if we are in a liquidity trap." This is a statement a __________ economist might make as an explanation of why the economy __________ pull out of a recession
A) Classical; will B) Classical; may not be able to C) Keynesian; will D) Keynesian; may not be able to
What is the primary difference between a mixed strategy and a pure strategy?
A) Pure strategies are always dominated strategies. B) Mixed strategies call for randomizing over possible actions, pure strategies do not. C) Pure strategies are much more common than mixed strategies. D) Mixed strategies are not optimal whereas pure strategies are.