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 77 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
Thanks for the timely response, appreciate it

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

The Titanic carried only twenty lifeboats, a reason why so many perished in 1912. The Lusitania (abo The Titanic carried only twenty lifeboats, a reason why so many perished in 1912. The Lusitania (abo
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 ...
Horizontal, sagittal, and coronal functional MRIs show areas of increased activity in the primary ... Horizontal, sagittal, and coronal functional MRIs show areas of increased activity in the primary ...
How to write any number in scientific notation How to write any number in scientific notation
economics economics
Satellite data on primary productivity in the equatorial Pacific Ocean Satellite data on primary productivity in the equatorial Pacific Ocean
Video: Cardiac Cycle (Part 3 of 4)

For a complete list of videos, visit our video library