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Prices in oligopolistic industries are predicted to fluctuate widely and frequently compared to other market structures.

A) True
B) False

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Larry's Lizards and Ronaldo's Reptiles are competing pet store franchises. Both are considering opening a store in the small town of Turtleville. If Ronaldo's opens a profitable store in Turtleville and Larry's management determines that it is not profitable to also open a store, then


A) this is a simultaneous game.
B) a Nash equilibrium is not possible in this game.
C) Ronaldo's had a first-mover advantage in this game.
D) this is a zero-sum game.

E) C) and D)
F) B) and D)

Correct Answer

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