Which of the Following Can Be Games Played by Firms

question 119

Multiple Choice

Which of the following can be games played by firms in an oligopoly?
i.choosing how much to spend on advertising
ii.choosing how much to spend on R&D
iii.choosing to enter a legal duopoly

• A) i and ii
• B) i and iii
• C) ii and iii
• D) ii only
• E) iii only

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Definitions:

Behavior

The actions or reactions of an individual or system in response to external or internal stimuli.

Variable Ratio Schedules

In behavioral psychology, a reinforcement schedule where a response is rewarded after an unpredictable number of responses, enhancing motivation to respond.

Extinction

The process of eliminating a behavior by stopping the reinforcement that previously followed that behavior, often used in behavioral psychology and organizational management.

Productivity

The efficiency of production of goods or services measured by the output per unit of input.