By Deciding That Something Is Due to 'Luck' a Person

question 45

Multiple Choice

By deciding that something is due to 'luck' a person makes a(n) :

• A) external-unstable attribution.
• B) stable-controllable attribution.
• C) external-stable attribution.
• D) internal-unstable attribution.

Recognize the importance of entry barriers in preserving oligopolistic market structures.

Understand the characteristics and implications of oligopoly market structures.

Recognize the application of game theory in analyzing oligopolistic behavior and strategic decision-making.

Distinguish between different types of games in game theory, including zero-sum, positive-sum, and repeated games.

---

Definitions:

Coase Theorem

The idea, first stated by economist Ronald Coase, that some externalities can be resolved through private negotiations among the affected parties.

Nonrivalry

A characteristic of some goods where one person's consumption does not diminish the ability of others to consume the same good.

Nonexcludability

A characteristic of certain goods or services where it is not feasible to exclude individuals from using the good or service, regardless of whether they have paid for it.

Negative Externality

A cost experienced by a third party not involved in the economic transaction, such as pollution affecting residents near a factory.