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Unformatted text preview: monopoly-where there is but a single firm in the industry. 5) Define an oligopoly Oligopolistic markets, only a few firms produce most of the output. 6) Define monopolistic competition Monopolistic competition is a market structure that is a hybrid between competition and monopoly. 7) What is a Nash Equilibrium Nash equilibrium is self enforcing. Nash equilibrium is not the outcome that maximizes the joint profits of the two companies. 8) Discuss the prisoners dilemma 9) Discuss the cartels dilemma...
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This note was uploaded on 08/11/2011 for the course FIN 3604 taught by Professor Patterson during the Spring '10 term at University of South Florida - Tampa.
- Spring '10