Question: Question 3 9 ( 1 point ) What are the four common features of all games?They are patents, copyrights, barriers to entry, and rules. rules,
Question pointWhat are the four common features of all games?They are patents, copyrights, barriers to entry, and rules. rules, strategies, profit, and outcome. costs, prices, profit, and strategies. rules, strategies, payoffs, and outcome. revenues, profit, outcomes, and payoffs.Question pointFact Two firms, FastNet and SmartCast are the only Internet providers in a city. They have identical costs and one firm's service is a perfect substitute for the other firm's service. The industry is a natural duopoly. FastNet and SmartCast decide to collude and agree to share the market equally.Refer to Fact Which of the following actions maximizes the duopoly's economic profit? New firms enter the market. Both firms charge the price that would exist in a perfectly competitive market. Both firms comply with the agreement. Both firms cheat on the agreement. One firm cheats and one firm complies.
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