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 65 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
:D TYSM

phuda

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Location of lymph vessels, lymphatic ducts, and areas of lymph node concentrations. Location of lymph vessels, lymphatic ducts, and areas of lymph node concentrations.
Connections Between Areas V1 and V2 Connections Between Areas V1 and V2
Four kinds of evidence supporting the theory that species evolve. Four kinds of evidence supporting the theory that species evolve.
Primary Recovery of Oil Primary Recovery of Oil
economics economics
Economics question Economics question
Video: Pressure volume relationships - Normal inspiration and expiration

For a complete list of videos, visit our video library