93) As the number of firms change in an oligopoly market, what will it become?  A. As the number of firms increases, the market approaches a monopoly market equilibrium  B. As the number of firms increases, the market approaches a competitive market equilibrium  C. As the number of firms decreases, the market approaches a socially optimal equilibrium.  D. As the number of firms decreases, the market approaches a cartel equilibrium.

Answer please questions!

20. Which of the following would an economist consider a barrier to exit? Group of answer choices Irene would like to give up her auto dealership, but the money is too good to quit. Leanne dreads telling her long-time customers that she is cutting back for heatlh reasons. Before Della can get out of the nail salon business, she has to find a buyer for her shop. Psychologically, Karl cannot bring himself to think about retirement. When Bernie's niece feels ready, he plans to turn the family restaurant over to her.

This is game theory question/ Quantity Competition and Nash Equilibrium. There are two pictures below. One has the question and the other one includes the answer. I need step by step solution to how they came up with numbers shown in the solution. Thank you

Why do oligopolies​ exist? Do oligopolies exist due to ? a. market failure b. barriers to entry c. economic profit d. intense competition

2. Using a payoff matrix to determine the equilibrium outcome Please help

fnan421 Word Gözden Geçir Görünüm Varam V Ne yapmak isted ginzi soyieyin 2) Two firms, X and Y, are planning to market their new products. Each firm can develop TV, Laptop. Market research indicates that the resulting profits to each firm for the alternative strategies are given by the following payoff matrix: FIRM Y TV LAPTOP PHONE FIRM X TV 30, 30 50, 35 20, 50 LAPTOP 40,70 20, 20 50,80 PHONE 50,20 80,50 10,10 A) Find the Nash equilibria for this game, assuming that both firms make their decisions at the same time. (explain the decision step by step)i B) If each firm is risk averse and uses a maximin strategy, what will be the resulting equilibrium? (explain the decision step by step);

What is the minimum number of firms required for an industry to be an oligopoly? a. many b. 100 c. 1 d. 3

1. What do we mean by market power in economics? What are some ways firms can attain market power? How can we, as economists, know when a firm has "too much" market power? Give an example of a firm you think has a lot of market power.2. Chapter 3 is all about game theory. Imagine you are in charge of pricing at a firm that has 20% market share in an industry where the leading firm has 50% market share. Imagine that the leader increases prices on their products. How do you think you would react? Why?

From the bank of terms match the letter that corresponds to the appropriate concept/description. Bank of terms Letter A Perfect Bayesian Nash equilibrium Bayesian Nash equilibrium Nash equilibrium Competition à la Cournot Competition à la Bertrand В C E Herfindahl index F Perfect competition G Consumer urplus Lerner index H I Principal-agent model Natural monopoly Strategic complements Conjectural variations approach Strategic substitutes J K L M N Concept/description Competition in quantities Price taking behavior Index of maket power Write letter Measure of welfare Solution for a static game with incomplete information Competition in prices Measure of intensity of competition Manager and business owner work relationship Best response functions that slope upwards Estimation of market power