Decision trees are commonly used to illustrate how firms make business

Decision trees are commonly used to illustrate how

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107) Decision trees are commonly used to illustrate how firms make business decisions that depend onthe actions of rival firms. A decision tree has boxes that contain points that represent when firmsmust make the decisions contained in the boxes. What are these points called?A) option pointsB) decision optionsC) either-or terminalsD) decision nodesAnswer: D107)Diff: 1Page Ref: 471/471Topic: Sequential Games and Business StrategyLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking33
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108) When Wal-Mart decides to build a new retail store in a town, it will decide to build a large storerather than a small store if the large store is expected to earn a greater economic profit. What othermotive would Wal-Mart have for choosing to build a large store?108)Diff: 2Page Ref: 472-473/472-473Topic: Sequential Games and Business StrategyLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Analytic Skills109) Sequential games are often used to analyze which two types of business strategies?109)Diff: 2Page Ref: 471/471Topic: Sequential Games and Business StrategyLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking34
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Figure 14-1
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