As a group, oligopolists earn the highest profit whenthey a.achieve a Nash equil

Question

As a group, oligopolists earn the highest profit whenthey a.achieve a Nash equilibrium. b.produce a total quatity of output that falls short of theNash-equilibrium total quantity. c.produce a total quantity of output that exceeds theNash-equilibrium total quantity. d.charge a price that falls short of the Nash-equilibriumprice. As a group, oligopolists earn the highest profit whenthey a.achieve a Nash equilibrium. b.produce a total quatity of output that falls short of theNash-equilibrium total quantity. c.produce a total quantity of output that exceeds theNash-equilibrium total quantity. d.charge a price that falls short of the Nash-equilibriumprice.

Explanation / Answer

As a group, oligopolists earn the highest profit whenthey a.achieve a Nash equilibrium- probably thisone, because there are a few companies or it is important to pickthe best option for one company if the competition is the otherhalf of the market share or 1/3 of market share, etc. b.produce a total quatity of output that falls short of theNash-equilibrium total quantity. c.produce a total quantity of output that exceeds theNash-equilibrium total quantity. d.charge a price that falls short of the Nash-equilibriumprice.

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