question 14\n1 pts\nan agreement among firms to charge the same price or otherwise not to compete is…

question 14\n1 pts\nan agreement among firms to charge the same price or otherwise not to compete is called\n○ a subgame - perfect equilibrium.\n○ a payoff matrix.\n○ collusion.\n○ a nash equilibrium.\nquestion 15\n1 pts\ncompetition from substitute goods is more of a threat when switching costs are high.\n○ true\n○ false

question 14\n1 pts\nan agreement among firms to charge the same price or otherwise not to compete is called\n○ a subgame - perfect equilibrium.\n○ a payoff matrix.\n○ collusion.\n○ a nash equilibrium.\nquestion 15\n1 pts\ncompetition from substitute goods is more of a threat when switching costs are high.\n○ true\n○ false

Answer

Brief Explanations:

For Question 14: Collusion is when firms agree to limit competition, such as charging the same price. A sub - game perfect equilibrium is a game - theoretic concept, a payoff matrix shows payoffs in a game, and a Nash equilibrium is a stable state in a non - cooperative game. For Question 15: Competition from substitute goods is more of a threat when switching costs are low, as consumers can easily switch to substitutes. When switching costs are high, consumers are less likely to switch to substitutes.

Answer:

Question 14: C. collusion Question 15: False