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3. Strategic behavior refers to decisions made in the long run, but not the short run. True False. 4. Game theory is concerne
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3. False

Strategic behavior refers to decisions made in the long run, but not in the short run. - False.

When the economic agents are engaged in strategic behavior, it refers that the strategic decisions taken by different economic agents are the results of actions and reactions of all the economic agents. One economic agent's decision strategically influence the other economic agent's decision and then it influence the overall business and market. So, it is the behavior observed in the short run.

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4. True

Game theory is concerned with identifying optimal strategies in conflict situations. - True

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