The manner in which one oligopolist reacts to a change in price, output, or quantity on the part of another oligopolist in the industry is known as
A) a positive-sum game.
B) the reaction function.
C) a noncooperative game.
D) a zero-sum game.
Answer: B
You might also like to view...
The official settlements account records the change in official U.S. reserves
Indicate whether the statement is true or false
In the economy of Talikastan in 2015, consumption was $200, exports were $150, GDP was $475, government purchases were $100, imports were $75, and investment was $100 . What were Talikastan's net exports in 2015?
a. -$75 b. -$225 c. $225 d. $75
Answer the following statement true (T) or false (F)
1) The interest-rate cost-of-funds curve is perfectly elastic because firms can borrow as much or as little as they want at market interest rates. 2) The interest-rate cost-of-funds curve is perfectly elastic because expected rates of return on R&D are constant. 3) Large, well-established firms are more likely to use retained earnings to finance R&D, while small start-up firms are more likely to rely on venture capital. 4) Kara's Kettles, Inc. has developed a new and improved type of cookware. Alex, a typical consumer, will necessarily purchase Kara's new product if his MU/P for the new cookware exceeds that of competing products. 5) According to the inverted-U theory of R&D, other things equal, firms in industries with concentration ratios around 10 percent will be more technologically progressive than firms in industries with 50 percent concentration ratios.
According to economic analysis, the optimal quantity of pollution exists at the point at which the
A. marginal benefit of pollution control is equal to the marginal cost. B. level of pollution is acceptable to the society. C. total benefit of pollution control is equal to the total cost. D. level of pollution is at zero.