Why Do Economists Refer to the Pricing Strategies of Oligopoly

question 1

Essay

Why do economists refer to the pricing strategies of oligopoly firms as a prisoner's dilemma game?

Identify strategies for mitigating moral hazard in various settings.

Understand the concept of adverse selection and its implications on markets.

Distinguish between moral hazard and adverse selection and their respective remedies.

Grasp how personal investment influences loan credibility and project viability.

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