Challenge your young economists with a problem on oligopolies and game theory in which they determine two sample firms' dominant strategies and options for maintaining and lowering prices.

Concepts

microeconomics

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Additional Tags

oligopolies, game theories, microeconomics, social studies

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Instructional Ideas

• Assign video as a homework problem that can be discussed the following day in class, or offer link to video as a tool for review

Classroom Considerations

• Appropriate for an advanced placement economics class
• Reviews concept of a dominant strategy

• This video is hosted on YouTube

Pros

• Video prompts independent practice, and then explains answers in detail
• Offers very useful tips for approaching these types of problems on a standard economics assessment

Cons

• None

Common Core

RH.11-12.4 RH.11-12.7