When an oligopoly is in a Nash equilibrium, A. firms have colluded to set their prices. B. a firm will not take into account th
e strategies of its rivals. C. firms will not behave as profit maximizers. D. a firm will choose its best pricing strategy, given the strategies that it observes other firms have taken.
An oligopoly is a market in which there are only a few sellers, with each seller offering a product similar or identical to the others.
So, When an oligopoly is in a Nash equilibrium, then - a firm will choose its best pricing strategy, given the strategies that it observes other firms have taken.
Note :
A Nash equilibrium occurs when no participant ( between different participants) can gain by a uniform change of strategy if the strategies of the others remain unchanged. The system is somewhat stable in this equilibrium state.
Answer: He split it into unequal halves which would make his way wrong. the correct way to do it would be to cut it so all the lines met in the middle of the pie