This statement is true.
In a market with a small number of sellers, known as an oligopoly, each seller's decisions have an impact on the outcomes of the other sellers.
Although there isn't a single theory to explain oligopoly, economists will occasionally employ a model known as the prisoner's dilemma to explain how oligopolistic market outcomes arise.
The prisoner's dilemma is a "game" that illustrates the advantages and dangers of cross-pollination among oligopolistic businesses.
A Nash equilibrium results from a prisoner's dilemma, where each player performs the best they can given what the other players are doing.
Oligopolist businesses frequently face the prisoners' dilemma, where they must choose between engaging in aggressive market-capture competition at the detriment of their rivals or engaging in "cooperation" and coexisting with the rival with the market share they already control.
To know more about oligopoly, visit:
brainly.com/question/3005866
#SPJ4
Answer: D - Capitalism
Explanation:
Conflict theory argued that political and economic structures of society create social divisions - because groups which contribute to these social divisions often exist under capitalism, that is the answer.
Hi! If by confessions you mean the <em>right not to self-incriminate</em>, aka the <u>Fifth Amendment</u>, your answer should be Miranda v. Arizona.
If you would like to know more about the case, let me know.
Imposition of rules by government backed by the use of penalties that are intended specifically to modify the economic behavior of individuals and firms in the private sector.
<u>Explanation</u>:
- An imposition of rules by the government to modify the individual's economic behavior and in the private sector firm known as regulation. Prices, output, rate of return, disclosure of information, standards and ownership ceilings are among those frequently used.
- One is to increase efficiency and maintain potential market power or avoid duplication. In the case of professional services, to protect consumers and maintain quality and protect consumers.
Answer:
Becoming a lawyer usually takes 7 years of full-time study after high school—4 years of undergraduate study, followed by 3 years of law school. Most states and jurisdictions require lawyers to complete a Juris Doctor (J.D.) degree from a law school accredited by the American Bar Association (ABA).
Explanation:
Non-Needed
<u><em>Hope this helps!!! :)</em></u>
