Answer: d. Game theory is not necessary for understanding competitive or monopoly markets.
Explanation:
Game Theory in Business is applied to see the options available to competitors in the market if they engage in certain actions because the outcome of one party's decision is affected by the decision of the other party. In the context of business it is often used to calculate how much profit or loss companies will make if they engage in certain actions based on the decisions of the other party.
It is therefore not necessary in Perfect Completions because the market sets the price and the participants follow. There is not need to analyse what will happen if one party picks a certain method and the other as well. It will be irrelevant because the same price will be imposed regardless.
It is also unnecessary in Monopoly markets simply because a monopoly has market control and Game theory is for situations where at least 2 parties are fighting for market control.
I think you’re referring to the competitive equilibrium price
Answer:
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
Explanation:
If the market research survey is available for $10,000.
Using a decision tree analysis, it has been found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000.
<u>Then the expected value of the information from this sample is the expected value of each outcome and deducting the costs associated with the decision</u>
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
Answer:
I did not .ñunderstand a da.mn.
Explanation:
traducelo
<span>The first step in the market research process is to define the objectives and research needs. Nike's primary objective in conducting this research was that Nike wanted to understand its female customers.
The objectives that Nike set for their company was to understand better the women that buy their products. Thus, they conducted a research in order to do so, so as to see what drives their female customers to buy their shoes and other equipment and then tailor their products to their needs even more.
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