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Q. In game theory, a choice that is optimal for a firm no matter what its competitors do is referred to as

Q. A firm that is threatened by the potential entry of competitors into a market builds excess production capacity. This is an example of

Q. As If a few large firms dominate an industry the market is known as:

Q. Diminishing marginal returns implies:

Q. The larger the diameter of a natural gas pipeline, the lower is the average total cost of transmitting 1,000 cubic feet of gas 1,000 miles. This is an example of:

Q. The law of diminishing returns states that:

Q. Game theory is concerned with

Q. An isoquant is ______ to an iso cost line at equilibrium point:

Q. If a rational consumer is in equilibrium, then:

Q. In cartels