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Q. In oligopoly:

Q. When a firm doubles its inputs and finds that its output has more than doubled, this is known as:

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

Q. A firm encountering economies of scale over some range of output will have a:

Q. At the point of inflexion, the marginal product is:

Q. An oligopolist may engage in short-run behaviour that results in lower profits if

Q. Game theory is concerned with

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. Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?

Q. A plan of action that considers the reactions of rivals is an example of