📊 MicroEconomics, Theory and Applications 1
Q. Which one of the following conditions is required for the success of a tit-for-tat strategy?
  • (A) demand and cost conditions must change frequently and unpredictably
  • (B) the number of oligopolists in the industry must be relatively small
  • (C) the game can be repeated only a small number of times
  • (D) firms must be unable to detect the behaviour of their competitors
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✅ Correct Answer: (B) the number of oligopolists in the industry must be relatively small

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