
Mod 4.5: Oligopoly & Game Theory
Authored by Mary Ong-Dean
Social Studies
12th Grade
Used 11+ times

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5 questions
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1.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Which of the following is a feature of oligopolies?
low barriers to entry
few firms in the market
control over prices
interdependence between firms
allocative efficiency
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Oligopolists engage in collusion in order to:
increase output
decrease costs
increase prices and profits
increase market share
increase consumer surplus
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which of the following situations is noncooperative game theory more likely?
Firms trust their customers.
Firms do not have a relationship with one another.
Firms do not trust the government.
Firms trust one another.
Firms trust the government.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is true of every Nash equilibrium?
It is the only Nash equilibrium in the game.
It is also a dominant strategy equilibrium.
Neither player wants to independently change their strategy.
Neither player gains more than the other.
Neither player can gain from changing their strategy.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Players have incentive to choose an action that makes them both worse off than if neither had chosen it. This describes:
a dominant strategy
the prisoner's dilemma
the beta strategy
Nash equilibrium
interdependence
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