Homework Writing Assignment for Math Class

 Based on your group discussion on Game Theory and Oligopolies, provide the following answers:

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

Assignment Formatting

• Microsoft Word document
• 12-point font (Times New Roman or Courier)
• double-spaced
• 1 inch margins all around with page numbers