Game theory is used to study oligopoly, but is not needed in the study of competitive and monopoly markets.

Name: Game theory is used to study oligopoly, but is not needed in the study of competitive and monopoly markets.
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Game theory is particularly useful in studying oligopolies where firms' decisions are interdependent. In competitive and monopoly markets, firms do not face strategic interactions with rivals in the same way, making game theory less applicable.

Game Theory Is Used to Study Oligopoly, but Is Not