Let's play a two-firm theory of games, with high/ low price options and corresponding payoffs. Imagine the game played between Nike and Reebok. Construct your own profit options for Nike in the table provided and explain what Nike would most likely do.
Answer to relevant QuestionsGraph a kinked demand curve and its corresponding marginal revenue curve. Describe five different views economists hold concerning what to do about monopoly and oligopoly pricing If you wait long enough, monopolies disappear. Explain. Why do economists believe government failure is inevitable? Farm workers' MRP in Canada keeps falling even though they keep producing more output. Explain.
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