A tit-for-tat strategy is one in which oligopolies
A) cooperate as long as other members cooperate, but if anyone cheats, they cut the price until the cheater reverts to cooperation.
B) cooperate almost all of the time, but occasionally do not cooperate in order to fool the antitrust authorities.
C) keep cutting prices to punish rivals until the competitive price is reached.
D) try to avoid the problems of the prisoners' dilemma, but actually make themselves worse off.
Answer: A
You might also like to view...
Elasticity of demand equals the ratio of the percentage change in the price of a good to the percentage change in the quantity demanded.
Answer the following statement true (T) or false (F)
The granting of small, unsecured loans to small businesses and entrepreneurs is known as
A. Growth finance. B. Long-term finance. C. Microfinance. D. Extreme finance.
Which of the following is included in the demand for loanable funds?
a. investment and government borrowing b. investment but not government borrowing c. government borrowing but not investment d. neither government borrowing nor investment
Which ONE of the following correctly expresses the elasticity formula for Edt?
A. 
B. 
C. 
D. 