Decision trees are commonly used to illustrate how firms make business decisions that depend on the actions of rival firms.A decision tree has boxes that contain points that represent when firms must make the decisions contained in the boxes.What are these points called?

Question

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The points in a decision tree where firms must make decisions are known as decision nodes. These nodes are represented by boxes in the tree and contain the various options that the firm can choose from.

Decision Trees Are Commonly Used to Illustrate How Firms Make