Decision Makers in Oligopolistic Firms Must Devise a Strategy

question 78

Multiple Choice

Decision makers in oligopolistic firms must devise a strategy. One that yields the highest benefit, regardless of what the other players do is a

• A) pricing strategy.
• B) rule-of-thumb strategy.
• C) dominant strategy.
• D) revenue strategy.

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Definitions:

Discretionary Powers

Authority granted to individuals or bodies to make decisions and act according to their judgment and wisdom within the bounds of their legal authority, often seen in administrative and government contexts.

Ministerial Nature

Pertains to duties or functions that are performed according to prescribed procedures or laws, without room for personal judgment or discretion.

Regulatory Violations

Acts or omissions by entities that fail to comply with laws and regulations governing their operation.

Ultra Vires

This term refers to acts or deeds conducted outside or beyond the powers of the laws of an entity, especially a corporation's activities exceeding its chartered powers.