The Term "Strategy" in Terms of Game Theory Refers To:​

question 6

Multiple Choice

The term "strategy" in terms of game theory refers to:​

• A)the tendency of firms to earn zero economic profit in the long run.
• B)the tendency of firms in an oligopoly to exit the market in the long run.
• C)each firm's game plan for making decisions.
• D)each firm's decision to charge a higher price than the price charged by the rival firm in an industry.
• E)the tendency for collusive firms to generate normal profits.

---

Definitions:

Social Construction

The theory that much of the world, including knowledge and social norms, is created through the interactions and perceptions of individuals.

Phenotypes

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Ancestry

The lineage or heritage of an individual, tracing back through generations, often associated with cultural and familial identity.

Decolonized Consciousness

A state of awareness that seeks to critically understand and overcome the impacts and ongoing influences of colonialism on cultures, societies, and individual identities.