Suppose that the firms in an oligopolistic market engage in
Suppose that the firms in an oligopolistic market engage in a price war and, as a result, all firms earn lower profits. Game theory would describe this as what?
an irrational strategy
a prisoners' dilemma
price leadership
a contestable market
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suppose that the firms in an oligopolistic market engage in a price war and as a result all firms earn lower profits
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