Ask Question
BusinessBusiness
4 January, 15:30

Game-theory analyzes oligopoly behavior by using concepts derived from the study of games-of-chance such as dice games, solitaire, and roulette. True or false?

+5
Answers (1)
  1. 4 January, 15:55
    0
    False

    Explanation:

    Game theory uses the prisoner's dilemma to analyze oligopoly behavior, not games of chance like dice or roulette.

    Oligopolies must select strategies by always considering the possible responses from their competitors, and they do not know what those responses may be. This is why the game situation that oligopolies face are very similar to the prisoner's dilemma.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Game-theory analyzes oligopoly behavior by using concepts derived from the study of games-of-chance such as dice games, solitaire, and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Phillip is a mortgage broker, who is paid by commission. When interest rates decline, he does a lot of business and earns a lot of money, as more people buy houses or refinance their mortgages.
Answers (1)
Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs: April May June Manufacturing costs (1) $156,800 $195,200 $217,600 Insurance expense (2) $1,000 $1,000 $1,000 Depreciation expense $2,000
Answers (1)
If all other factors are equal, what will happen to the demand if the price of a product goes down? (Select the best answer.) Question 6 options: Demand will stay the same as it was. Demand will be the same as the supply. Demand will go down.
Answers (1)
If an economist argues that everyone gains from trade, what reasoning is most likely underlying her argument?
Answers (1)
Scott Equipment produces high-quality soccer balls. If the fixed cost per ball is $ 3 when the company produces 15000 balls, what is the fixed cost per ball when it produces 22500 balls? Assume that both volumes are in the same relevant range.
Answers (1)
New Questions in Business
On January 2, 2012, Farr Co. issued 10-year convertible bonds at 105. During 2012, these bonds were converted into common stock having an aggregate par value equal to the total face amount of the bonds.
Answers (1)
Why is an organizational structure important? A. It allows having minimum resources to complete tasks. B. It allows clumsy or unclear reporting structure, C. It ensures that the right people occupy the right positions. D.
Answers (1)
If products A and B are complements and the price of B decreases, the A. demand curves for both A and B will shift to the left. B. amount of B purchased will increase, but the demand curve for A will not shift. C.
Answers (1)
Fran has a job involved with controlling the flow of oil through a series of pipelines at the refinery. As a part of his work, he needs to interpret diagrams, levels, and readings from gauges.
Answers (1)
Choose the appropriate stage of the venture life cycle in which the following activities would occur. Transition from one-person leadership to team management leadership New-product development Search for capital Increased competition Venture
Answers (1)
Home » Business » Game-theory analyzes oligopoly behavior by using concepts derived from the study of games-of-chance such as dice games, solitaire, and roulette. True or false?
Sign Up Forgot Password?