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Q. In game theory, the outcome or consequence of a strategy is referred to as the

Q. Which of the following shifts the demand for watches to the right?

Q. In game theory, a situation in which one firm can gain only what another firm loses is called a

Q. In a cartel, member firms may be given a fixed amount to produce. This amount is called

Q. A firm may decide to increase its scale so that it has excess production capacity because, by doing so, it is able to

Q. Law of variable proportion is valid when:

Q. The marginal product of labour curve shows the change in total product resulting from a:

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

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

Q. A consumer with a fixed income will maximize utility when each good is purchased in amounts such that the: