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Measure skillsfrom any curriculum
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from any curriculum
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11 questions
Show answers
- Q1a group of firms that collude to produce the monopoly output and sell at the monopoly pricecartel30s
- Q2when firms act together to reduce output and keep prices highcollusion30s
- Q3a product that is consumers perceive as distinctive in some waydifferentiated product30s
- Q4an oligopoly with only two firmsduopoly30s
- Q5a branch of mathematics that economists use to analyze situations in which players must make decisions and then receive payoffs based on what decisions the other players makegame theory30s
- Q6firms and organizations that fall between the extremes of monopoly and perfect competitionimperfectly competitive30s
- Q7a perceived demand curve that arises when competing oligopoly firms commit to match price cuts, but not price increaseskinked demand curve30s
- Q8many firms competing to sell similar but differentiated productsmonopolistic competition30s
- Q9when a few large firms have all or most of the sales in an industryoligoply30s
- Q10a game in which the gains from cooperation are larger than the rewards from pursuing self-interestprisoner's dilemma30s
- Q11any action that firms do to make consumers think their products are different from their competitors'product differentiation30s