Faced with an uncertain situation, the best decision for a person ...

[V@ndy87]

Faced with an uncertain situation, the best decision for a person obeying the von-Neumann Morgenstern axioms:
 a. minimizes loss relative to the status quo.
 b. minimizes variability across possible outcomes.
 c. maximizes the expected payoff.
 d. maximizes expected utility.

Question 2

The distinctive characteristic of an oligopolistic market structure is that there are recognizable interdependencies among the decisions of the firms.
 a. true b. false

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Answer to Question 1

d

Answer to Question 2

a

[V@ndy87]

Thanks for the timely response, appreciate it

[brbarasa]

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