Question

Before deciding on a pricing strategy, Worldwide Widgets consults with its market intelligence team to understand what discounts the Gargantuan Gizmo Company is offering. The model that BEST fits this industry is monopolistic competition. an oligopoly a monopoly. pure competition.

Answer 1

1. An oligopoly

Explanation: In an oligopoly, the action of a firm is affected by the actions of other firms.

2. Tit-for-tar strategy

Explanation: In a tit-for-strategy, one punishes the other player for non-cooperative while keeping the door for future reconciliation open.