True or False:
1. Horizontal, vertical, and conglomerate mergers all increase a firm’s market shares in the industries involved.
2. For predatory pricing to work, a firm would have to be able to raise its prices substantially afterward.
3. In noncooperative games, each firm sets its policy without consulting other firms.
4. A dominant strategy is one that will be optimal regardless of one’s opponent’s actions.
5. A Nash equilibrium is an example of a game that does not have a dominant strategy.
6. Repeated games are more likely to produce cooperative results than one-shot games.
7. Firms always cooperate in repeated games.