Game theory is necessary to understand which kinds of markets?
(i)perfectly competitive
(ii)monopolistically competitive
(iii)oligopoly
(iv)duopoly
(v)monopoly
A)(i) and (ii) only
B)(iii), (iv), and (v) only
C)(iii) and (iv) only
D)(i), (ii), (iii), (iv), and (v)

Question

Quizplus · Accepted Answer

Game theory is particularly useful in analyzing markets where strategic interactions between a few firms are important, such as in oligopolies and duopolies.

Game Theory Is Necessary to Understand Which Kinds of Markets