Economists use game theory to analyze oligopolies because
A) real markets are too complicated to analyze without using games.
B) it is more enjoyable for economists and students to learn by playing games.
C) game theory helps us to understand why interactions among firms are crucial in determining profitable business strategies.
D) game theory is useful in understanding the actions of firms that are price takers.
Answer: C
Economics
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A) the inflation-consumption index. B) the producer price index. C) the cost-of-living index. D) the GDP deflator.
Economics
The official definition of the money supply that includes coins, paper money, travelers' checks, conventional checking accounts, and other checkable deposits at banks and savings institutions is called ____
a. M1 b. M2 c. M3 d. L
Economics