Define/Complete the following:

Chapter 15 Oligopoly and Game Theory

• cartel
• prisoner's dilemma
• dominant strategy
• list three characteristics of an oligopoly

Chapter 17 Monopolistic Competition

• List three characteristics of the monopolistic competition market structure.
• Draw the Long Run profit scenario for a monopolistic competitor. It should include the demand, marginal revenue, average cost, and marginal cost curves. Show the expected excess capacity, price/unit and average cost/unit.
• Describe the two types of advertising.