Asked by
Isaiah Goolsby
on Nov 05, 2024
Verified
One thing oligopolists must do in order to determine their optimal strategy is
A) anticipate the reaction of their rivals to their strategy.
B) ignore the reaction of their rivals to their strategy.
C) ignore the reaction of their customers to their strategy.
D) anticipate the reaction of government to their strategy.
Optimal Strategy
The best course of action that maximizes benefits or minimizes costs under given circumstances, often used in decision-making and game theory.
Anticipate
To expect or predict something based on current trends or information.
- Acknowledge the significance of mutual reliance among companies in shaping actions and strategies in oligopoly markets.
Verified Answer
KL
Learning Objectives
- Acknowledge the significance of mutual reliance among companies in shaping actions and strategies in oligopoly markets.