The approach economists use to analyze competition among oligopolists is called

Question

Quizplus · Accepted Answer

Game theory is the approach economists use to analyze competition among oligopolists. Game theory provides a framework for analyzing the strategic behavior of firms in oligopoly markets, taking into account the actions of other firms and the potential outcomes of different strategies. Marginal analysis is a more general approach used by economists to analyze the behavior of firms and individuals based on incremental changes in costs and benefits. Oligopoly theory refers to the study of oligopolistic markets, which may involve game-theoretic analysis but is not a specific approach itself. "Competition among the few" is a descriptive term for oligopoly, rather than a specific analytical approach.

The Approach Economists Use to Analyze Competition Among Oligopolists Is