Strategic behavior and game theory are features of which market structure?
A) Perfect competition
B) Monopoly
C) Monopolistic competition
D) Oligopoly

Question

Quizplus · Accepted Answer

Strategic behavior and game theory are characteristics commonly associated with oligopolistic markets in which a small number of firms dominate the industry and can influence market outcomes through their interactions with each other. In contrast, perfect competition and monopolistic competition are both characterized by a large number of firms that are relatively small relative to the overall size of the market, and monopolies are characterized by a single dominant firm that has significant market power.

Strategic Behavior and Game Theory Are Features of Which Market