A Strategy in Which a Firm Takes the Same Action

question 267

Multiple Choice

A strategy in which a firm takes the same action that another firm did in the last period is a _____ strategy.

• A) tit-for-tat
• B) trigger
• C) duopoly
• D) dominant

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Definitions:

Generalizing

The process of applying the findings from a specific instance to broader segments under similar but not identical circumstances.

Complicate

To make something more difficult or complex, often by adding new elements or problems.

Mopane Worm

A caterpillar in Southern Africa that is harvested for food, known scientifically as Gonimbrasia belina.

Generalization

The process in a learning context where a response is elicited by stimuli similar to the original stimulus.