Jack, Jamie, Ronnie, and Stephan own the only computer software manufacturing companies in the country. When Jack increases the price of his product and advertises extensively to promote it, the other three manufacturers immediately increase their prices and launch promotional strategies. What type of market structure do these four companies operate in

Oligopoly

Explanation:

Oligopoly is a type of market structure in which few number of firms control or collectively dominate a market. Each of the few firms in an Oligopoly can exact a significant influence on the others in their pricing and output policies. Usually, an Oligopoly market structure is controlled by two or more few number of firms having a firm grip on the market share, who compete with each other.

a. Swifty will always set a low price,no matter Speedy's choice.

Explanation:

Swifty's dominant strategy should result in maximizing its profits regardless of what Speedy does. This is achieved by setting a low price, since that strategy could yield $150 + $50 = $200

If Swifty sets a high price it could earn = $100 + $25 = $125

Since $200 is higher than $125, then that would be Swifty's dominant strategy.