The manner in which one oligopolist reacts to a change in price, output, or quantity on the part of another oligopolist in the industry is known as
A) a positive-sum game.
B) the reaction function.
C) a noncooperative game.
D) a zero-sum game.

Question

Quizplus · Accepted Answer

The reaction function is specifically defined as the way in which one oligopolist responds to changes made by another oligopolist in the industry. Therefore, the answer is B.

The Manner in Which One Oligopolist Reacts to a Change