Author Question: The tit-for-tat strategy implies that the firms a. in non-competitive industries match price ... (Read 33 times)

javeds · **on:** Jun 30, 2018

The tit-for-tat strategy implies that the firms
a. in non-competitive industries match price increases but ignore price decreases
b. will follow the lead of the dominant firm in making pricing decisions
c. prices will change whenever fixed cost changes
d. cooperate on the first round, and then follow your competitors reactions on the second round
e. price will only change if demand changes

Question 2

Which of the following can be a renewable resource?
a. oil
b. timber
c. coal
d. iron ore
e. uranium