firms will always achieve dominant-strategy equilibrium if game theory is used to analyze oligopoly. question 19 options: true false

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04-11-2022
Business

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firms will always achieve dominant-strategy equilibrium if game theory is used to analyze oligopoly. question 19 options: true false

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BinithaR BinithaR · Answer 1 · 2022-11-08T02:38:08-05:00

True ,A market structure known as an oligopoly occurs when a few large sellers or manufacturers control a sizable portion of a market or an entire sector.

What is oligopoly?

A market structure known as an oligopoly occurs when a few large sellers or manufacturers control a sizable portion of a market or an entire sector. Oligopolies are frequently the outcome of corporate collaboration as a way to increase profits.

A market with an oligopoly has a small number of businesses that are aware of their interdependence in terms of price and production strategies. Each company has a reasonable amount of market power due to the modest number of enterprises.

In oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so.

To learn more about Oligopoly refer to:

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