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 67 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

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Plant apical meristems and the primary tissues they produce. Plant apical meristems and the primary tissues they produce.
Which aspect of executive functioning is required to play the game of “Simon Says,” in which ... Which aspect of executive functioning is required to play the game of “Simon Says,” in which ...
The Location and Number of Farms in the United States, 2012 The Location and Number of Farms in the United States, 2012
economics economics
An 8th grade class develops a linear model that predicts the number of cheerios (a small round ... An 8th grade class develops a linear model that predicts the number of cheerios (a small round ...
Lobes of the brain, with primary receiving and integrating centers of the human cerebral cortex. Lobes of the brain, with primary receiving and integrating centers of the human cerebral cortex.
Video: Condensation and Hydrolysis Animation

For a complete list of videos, visit our video library