NAME

Question Types


Start With


Question Limit

of 21 available terms

Advertisement Upgrade to remove ads

5 Written Questions

5 Matching Questions

  1. Game Theory
  2. Tit-for-Tat Strategy
  3. Price Leadership
  4. Prisoners' Dilemma
  5. Concentration Ratio
  1. a A firm whose price decisions are tacitly accepted and followed by others in the industry.
  2. b A particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial to do so.
  3. c The theory that studies decision making in situations in which one player anticipates the reactions of other players to its own actions. Firms are mutually interdendent.
  4. d A measure of market power - the percentage of all sales that is accounted for by the four or eight largest firms in the market
  5. e A pricing strategy in game theory in which firms continue to match each others' pricing strategy.

5 Multiple Choice Questions

  1. An oligopoly in which the sales of the leading (top four) firms are distributed unevenly among them.
  2. A combination of two or more companies into one company.
  3. A table that shows the payoffs that each firm earns from every combination of strategies by the firms.
  4. An agreement among firms in a market about quantities to produce or prices to charge in attempts to limit competition.
  5. The situation that exists when two or more groups need each other and must depend on each other to accomplish a goal that is important to each of them

5 True/False Questions

  1. Price DiscriminationOffering specific goods or services at different prices to different segments of the market. Example: First class versus business class on airlines.

          

  2. Nash EquilibriumAny combination of strategies in which each players' strategy is his or her best choice, given the other players' strategies.

          

  3. CartelA group of firms that collude to limit competition in a market by negotiating and accepting agreed-upon prices and market shares.

          

  4. Joint VentureThe dominate firm in the oligopoly, whose pricing decisions are tacitly followed. The Godfather is the price leader.

          

  5. Brand MultiplicationOffering specific goods or services at different prices to different segments of the market. Example: First class versus business class on airlines.

          

Create Set