The industries in which one company has historically chosen to be the first in changing price or making some other marketing-mix or strategic decision,________ concept of game theory is used.

Question

Quizplus · Accepted Answer

The leader-follower concept of game theory is used in situations where one company chooses to be the first in changing price or making other strategic decisions. This concept identifies the best strategies for both the leader and follower in such instances. Therefore, the correct option is D, leader-follower.

The Industries in Which One Company Has Historically Chosen to Be