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

Question

Quizplus · Accepted Answer

Game theory is a method where strategic choices of different parties involved in a situation are analyzed and evaluated. It helps in predicting the outcomes of different strategies adopted by different parties, and also in devising the optimal strategy for an individual party, keeping in mind the actions of other parties. Benefit-cost analysis, econometric theory, and monopolistic competition do not provide a comprehensive approach for assessing strategic choices.

An Analytical Approach Through Which Strategic Choices Can Be Assessed