Review the content, Game Theory and Oligopolies
then respond to the questions provided below. You may work as a group in this open discussion area, however, submit your individual response to the assignment folder, Assignment: Game Theory and Oligopolies.

Will the firms in an oligopoly act more like a monopoly or more like competitors? Briefly explain.
Does each individual in a prisoner’s dilemma benefit more from cooperation or from pursuing self-interest? Explain briefly.
Define Nash Equilibrium and how it can be applied.
What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits?


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