Game theory is especially useful for analysis in the following types of markets:
A)perfect competition.
B)monopolistic competition.
C)oligopoly.
D)monopoly.

Question

Quizplus · Accepted Answer

Game theory is particularly useful for analyzing markets with a small number of interdependent firms, or oligopolies. In an oligopoly, each firm's decisions are influenced by the decisions of its competitors, making traditional economic models less effective. Game theory allows for the analysis of strategic behavior and decision making in these complex markets.

Game Theory Is Especially Useful for Analysis in the Following