Question
Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides the clearest possible evidence of
"Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics." -- George Reisman
How does this quote deal with oligopolies and how they compete, and especially how does it affect game theory as well as how they price their products?
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Step: 1
Oligopoly is a market structure in which there are a few firms producing a product When there are fe...
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Step: 2
Step: 3
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Financial Institutions Management A Risk Management Approach
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders
8th edition
978-0078034800, 78034809, 978-0071051590
