Q. Which one of the following conditions is required for the success of a tit-for-tat strategy? (Solved)
1. demand and cost conditions must change frequently and unpredictably
2. the number of oligopolists in the industry must be relatively small
3. the game can be repeated only a small number of times
4. firms must be unable to detect the behaviour of their competitors
- b. the number of oligopolists in the industry must be relatively small