"An Oligopoly Is an Oligopoly

question 101

Multiple Choice

"An oligopoly is an oligopoly.Firms behave the same no matter what type of oligopoly it is." This statement is true of:

• A)Bertrand and Cournot oligopolies.
• B)Cournot and Stackelberg oligopolies.
• C)Bertrand and Stackelberg oligopolies.
• D)none of the statements associated with this question are correct.

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Definitions:

Repeated Games

A game played by the same participants multiple times, allowing for the development of strategies based on previous outcomes.

Net Payoffs

The final amount of profit or loss after all gains and costs have been accounted for in a financial transaction or decision.

Oligopolist

A firm that is part of an industry where a small number of entities dominate the market, often leading to limited competition.