The game theory approach to the analysis of oligopoly assumes that oligopolists
A. ignore their interdependence.
B. behave with little forethought.
C. do not take their businesses seriously.
D. act strategically.
Answer: D
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In a two-nation world, comparative advantage in the production of a particular product means that one nation can produce
A. the product at a lower domestic opportunity cost than the other nation. B. more of the product than the other nation. C. the product with fewer inputs than the other nation. D. the product at lower average cost than the other nation.
Deflation is:
A. a sustained rise in the aggregate price level. B. negative inflation. C. as common as inflation. D. a decline in inflation.
Capitalistic System
What will be an ideal response?
In which of the following would the richest tenth of the population be most likely to receive the highest percentage of the country's income?
A. Namibia. B. The United States. C. Japan. D. The United Kingdom.