An analytical approach through which strategic choices can be assessed is called:
A)cost-benefit analysis.
B)econometric theory.
C)game theory.
D)monopolistic competition.

Question

Quizplus · Accepted Answer

Game theory is a mathematical approach to analyze strategic decision making. It considers the behavior and decisions of all parties involved, predicts their possible choices, and determines the best course of action. This approach helps in determining the optimal strategies in different scenarios, such as businesses, economics, and politics. On the other hand, cost-benefit analysis is a financial method to compare the benefits of an investment against its costs; econometric theory is a statistical approach to measure economic relationships; monopolistic competition is a market structure where several firms compete on a differentiated product.

An Analytical Approach Through Which Strategic Choices Can Be Assessed