Sequential games best understand a situation where
A) one firm acts and the other firm responds later.
B) one firm acts and the other firm responds at the same time.
C) the firms are in a cartel.
D) the firm is a monopoly.
E) there is a prisoner's dilemma.

Question

Quizplus · Accepted Answer

Sequential games involve one firm taking an action and then the other firm responding later. This type of game is also known as a "move and respond" game. Option A is the only choice that accurately describes this type of game.

Sequential Games Best Understand a Situation Where