A situation in which oligopolists interacting with one another each choose their best strategy given the strategies that all the other oligopolists have chosen is known as a ?
Correct answer: A. Nash equilibrium
- A. Nash equilibrium
- B. dominant strategy.
- C. cartel
- D. collusion solution
Explanation
A Nash equilibrium occurs when every oligopolist chooses the best strategy given the strategies already chosen by the others. No firm can improve its result by changing its strategy alone.
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