When there is no threat of ________, Mona uses the marginal principle to pick a quantity and a price.
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Game theory
________** is the study of decision- making in strategic situations.
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Concentration ratios
________** are the percentage of the market output produced by the largest firms.
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game tree
A** ________** is a graphical representation of the consequences of different actions in a strategic setting.
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duopolists' dilemma
The ________ occurs because the two firms are unable to coordinate their pricing decisions and act as one.
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payoff matrix
A** ________** is a matrix or table that shows, for the possible outcomes of a game, the consequences for each player.
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small increase
The advertisers dilemma occurs when advertising causes a relatively ________ in the total sales of the industry but allows a firm that advertises gain at the expense of firms that dont.
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dominant strategy
A** ________** is an action that is best chosen for a player, no matter what the other player does.
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total profit
The increase in revenue is less than the cost of advertising, so advertising decreases ________.
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