Oligopoly and Game Theory- Micro Topic 4.5

The video tutorial explains economic concepts focusing on oligopolies and game theory. It uses a market scenario with two competing firms, ACDC and Clifford Taxi, to illustrate how firms decide on pricing strategies. The tutorial discusses dominant strategies, showing that ACDC has a dominant strategy to maintain prices, while Clifford lacks one. The final scenario concludes with both firms maintaining their prices.

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