Multiple Choice
When an oligopoly market is in Nash equilibrium,
A) firms have colluded to set their prices.
B) firms will not behave as profit maximisers.
C) a firm will not take into account the strategies of its rivals.
D) a firm will choose its best pricing strategy, given the strategies that it observes other firms have taken.
Correct Answer:
Verified
Correct Answer:
Verified
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