Oligoply

What is a defining characteristic of an Oligopoly?

• Mutual Interdependence

• Great Usage of Non- Price Competition

• Many Firms Competing For Business

• Only one provider.

An Oligopoly participates in _________________ an illegal activity to limit Q and raise Prices.

John Nash is famous for the _________ _________________, which is used in Game Theory.

When there is a best outcome regardless of the other players actions in Game Theory, we have a ________________

Strategy.

If we choose the lowest payoff in game theory, we have a

________________________ Strategy.

The famous example of Game Theory is the ________________

___________________.