For each of the following statements concerning the role of strategic thinking in management decision, explain whether the statement is true or false.

Managers of firms operating in perfectly competitive markets need to get into the heads of rival managers in order to make more profitable decisions.

Strategic thinking by managers in oligopolistic industries promotes rational decision making, which will increase total industry profit.

Despite the interdependent nature of profits, oligopoly managers have the same goal as perfect competitors, monopolist, and monopolistic competitors.