The Nash equilibrium in an oligopolistic market is generally worse for society than the outcome under collusion because the price is equal to marginal price.
<h3>What is Oligopoly?</h3>
- A market structure which has a small number of enterprises and none of which can prevent the others from having a large impact known as an oligopoly.
- The market share of the major companies is calculated using the concentration ratio.
- Basically, a market with a monopoly has just one producer, a duopoly has two businesses.
- An oligopoly has three or more businesses. Although there is no exact maximum limit to the number of businesses in an oligopoly.
- Mainly, there must be few enough that the decisions of one business have a big impact on the others.
<h3>What is Nash Equilibrium?</h3>
- The Nash equilibrium is the most popular technique in game theory to describe the outcome of a non-cooperative game involving two or more participants.
- Each player in a Nash equilibrium is considered to be aware of the equilibrium strategies of the other players, and changing one's own strategy will not benefit anyone.
- Nash Equilibrium shares its name with the mathematician John Forbes Nash Jr.
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The answer is that it indicated the order of "greater importance".
A hierarchy refers to an arrangement of things (objects,
names, values, classes, and so on.) in which the things are represented to as
being "above", "beneath", or "at an indistinguishable
level from" each other. A hierarchy can connect elements either specifically
or in a roundabout way, and either vertically or diagonally. Authoritative structures exist that are both unconventional
and correlative to hierarchy.
After an investigation by the DBPR, if the complaint is not dismissed and no ESO is issued, a hearing is held. This is further explained below.
<h3>What is the investigation?</h3>
Generally, investigate formally or systematically examine or study something or someone.
In conclusion, An ESO hearing is conducted after an inquiry by the DBPR if no ESO is granted.
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Answer:
The issue price of the bonds is $ 473,171 .
Explanation:
The value of bond or issue price can be calculated by discounting all future cash flow using effective rate of retun. Detail calculations are given below.
Future Value = Redemption present value (RPV) + Present value of interest (PVI)
RPV = 500,000 (1+10%)^-10 = $ 192,772 -A
PVI = 22,500 * Annuity factor =$280,400-B
Future Value = A + B = $ 473,171
Annuity factor = (1- (1+i%)^-n)/i% = (1- (1+10%/2)^-20)/(10%/2) = 12.4622
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