CH9 Monopolistic Competition & Oligopoly
Q1. If a market has few barriers to entry and many firms, how might firms still
have positive economic profit?
Q2: Describe the difference between balanced oligopolies and unbalanced
oligopolies. Explain the difference in competitor behaviors we might see in each
market.
Q3: Describe what a dominant strategy in game theory means. Give an example.
How is this different from a Nash equilibrium?
Q4: Explain the difference between the four market structures covered in the last
three chapters. Which market structure do you believe you encounter in your
daily life the most. This question will need answers in full detail.
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