What Is a Prototype? How Is One Used

question 128

Essay

What is a prototype? How is one used?

Recognize the potential positive and negative economic effects of advertising on market competition and consumer welfare.

Understand the strategic role of price setting in oligopolies, including limit pricing and price wars.

Analyze the concept and implications of game theory in oligopoly strategies, including dominant strategies and Nash equilibrium.

Explore the conditions under which collusive agreements are likely to be stable.