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Author Question: Faced with an uncertain situation, the best decision for a person obeying the von-Neumann ... (Read 94 times)

V@ndy87

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on: Jul 1, 2018
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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adf223

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

a


V@ndy87

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

tranoy

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Reply 3 on: Yesterday
Excellent

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