69. If an oligopolist is going to change its price or output, its initial concern is:
70. One reason why prices tend to be less flexible in oligopoly markets than in other market structures is because: A. Coordination tends to stabilize prices.B. According to the kinked-demand model, a firm will tend to become worse off if it increases or decreases its prices.C. Oligopoly firms cannot afford to let prices decrease since they incur large advertising expenses.D. Price changes are always matched by the oligopolist's competitors.
71. If rival oligopolists completely ignore Glenwood Tool Company's price changes, then Glenwood Tool Company's:
72. Game theory is:
73. The study of decision making in situations where strategic interaction between rivals occurs is known as:
74. The study of how decisions are made when strategic interaction between firms exists is known as: A. Game theory.B. Contestable market theory.C. Market power theory.D. Predatory pricing theory.
75. Oligopolists have a mutual interest in coordinating production decisions in order to maximize joint: