Among the characteristics of game theory are a

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Chapter 10 / Exercise 22
Principles of Information Systems
Reynolds/Stair
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33) Among the characteristics of game theory are: A) payoffs that are the results of the interaction among players' strategies. B) rules that determine what actions are allowable. C) strategies that players employ to attain their objectives. D) all of the above. Answer:
D Diff: 2 Page Ref: 420 34) An example of the bargaining power of buyers are:
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Principles of Information Systems
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Chapter 10 / Exercise 22
Principles of Information Systems
Reynolds/Stair
Expert Verified
A Diff: 2 Page Ref: 433 35) An example of a barrier to entry is:
D Diff: 2 Page Ref: 417 36) Oligopoly markets and presidential politics both:
A Diff: 2 Page Ref: 416 37) A four-firm concentration ratio measures: A) the production of any four firms in an industry. B) the fraction of employment of the four largest firms in an industry. C) how the four largest firms became so concentrated. D) the fraction of an industry's sales accounted for by the four largest firms. Answer:
D Diff: 1 Page Ref: 416 38) If there are no barriers to entry, existing firms can deter the entrant of new rival firms by:
A Diff: 2 Page Ref: 429 39) The dominant strategy for a small OPEC producer like Nigeria is:
A Diff: 2 Page Ref: 428 40) A good retaliation strategy for an oligopoly is:
D Diff: 2 Page Ref: 425
41) A cartel is: A) an informal agreement to fix prices to maximize joint profits. B) a competitive industry. C) temporary storage facility for automobiles. D) a formal agreement to fix prices to maximize joint profits. Answer:
D Diff: 2 Page Ref: 426

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