The term strategy in terms of game theory refers to

a. the relationship between price and marginal cost
b. the relationship between individual firm demand curves and the market demand curve
c. each firm's game plan in making decisions
d. the interrelationship between price and marginal revenue
e. the tendency for collusive firms to generate normal profits


C

Economics

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Bundle A is worse than bundle B, and bundle C is an average of bundles A and B. Then our usual assumptions about tastes imply that bundle B is at least as good as bundle C.

Answer the following statement true (T) or false (F)

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Economics

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Economics