Review the content, Game Theory and Oligopolies
Review the content, Game Theory and Oligopolies, https://rise.articulate.com/share/bUSDAx3LrG6SNdPWYxA9o8RB5UZ-1UPx#/ 1.Will the firms in an oligopoly act more like a monopoly or more like competitors? Briefly explain. 2.Does each individual in a prisoner’s dilemma benefit more from cooperation or from pursuing self-interest? Explain briefly. 3.Define Nash Equilibrium and how it can be applied. 4.What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits?
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