This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Game theory is used in a number of areas in economics. What is the primary reason that it is used in ... (Read 82 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jun 30, 2018
Game theory is used in a number of areas in economics. What is the primary reason that it is used in analyzing oligopoly type market structures?
 a. The firms are producing a similar product
  b. The firms are producing differentiated products
  c. The demand curve facing the oligopolistic firms is perfectly inelastic
  d. The mutual interdependence of firms in industries with a small number of firms
  e. The demand curve the oligopolistic firm faces is downward sloping

Question 2

Rents represent earnings that
 a. exceed marginal cost
  b. are less than marginal revenue product
  c. are less than what producers would require to supply products
  d. exceed opportunity revenue
  e. exceed opportunity cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jody Vaughn

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

E


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Polar bears feed upon a number of marine mammals. They are currently at the centre of international Polar bears feed upon a number of marine mammals. They are currently at the centre of international
Areas of Referred Pain, Anterior View Areas of Referred Pain, Anterior View
The Systems in Bronfenbrenner’s Ecological Theory The Systems in Bronfenbrenner’s Ecological Theory
Conscientiousness is negatively correlated with a number of health-related behaviors. The higher the ... Conscientiousness is negatively correlated with a number of health-related behaviors. The higher the ...
A ring link network reduces the number of wires it takes to interconnect all of the modules. A ring link network reduces the number of wires it takes to interconnect all of the modules.
Four kinds of evidence supporting the theory that species evolve. Four kinds of evidence supporting the theory that species evolve.
Video: Nucleic acid digestion - brush border enzymes, end products & transport mechanism

For a complete list of videos, visit our video library