Description

Review the content, Game Theory and Oligopolies,
https://rise.articulate.com/share/bUSDAx3LrG6SNdPWYxA9o8RB5UZ-1UPx#/

1.Will the firms in an oligopoly act more like a monopoly or more like competitors? Briefly explain.
2.Does each individual in a prisoner’s dilemma benefit more from cooperation or from pursuing self-interest? Explain briefly.
3.Define Nash Equilibrium and how it can be applied.
4.What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits?

Assignment Formatting
•Microsoft Word document
•12-point font (Times New Roman or Courier)
•double-spaced
•1 inch margins all around with page numbers