The Tit-For-Tat Strategy Implies That the Firms

question 124

Multiple Choice

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

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Definitions:

Hindgut

The posterior part of the alimentary canal in some animals, including the distal colon and rectum in humans.

Anus

Lower opening of the digestive tract through which fecal matter is extruded.

Mesoderm

During the early stages of embryonic development, the central layer that eventually develops into the body's muscles, bones, and blood circulation system.

Ectoderm

The outermost layer of embryonic cells, which develops into the nervous system, skin, and hair.