If a firm does NOT know its rival's profit function, then we consider that information to be
A) irrelevant in deciding its best strategy.
B) private.
C) common knowledge.
D) Pareto sub-optimal.
B
Economics
You might also like to view...
Differentiate between the quantity effect and price effect of a price cut by a monopoly
What will be an ideal response?
Economics
Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, then in absolute value
A) W = X = $10. B) W = X = $20. C) W = Y = $100. D) W = Y = $200. E) W = Y = $300.
Economics