Game theory is distinctive in that its elements are
A) costs, prices and profits.
B) revenues, elasticity and profits.
C) patents, copyrights and barriers to entry.
D) rules, strategies, payoffs and outcomes.

Question

Quizplus · Accepted Answer

Game theory focuses on the strategic interaction between players, where the key elements include the rules of the game, the strategies available to the players, the payoffs resulting from these strategies, and the outcomes of these interactions.

Game Theory Is Distinctive in That Its Elements Are