We must be knowledgeable of how people behave in strategic situations if we are to understand
A)perfectly competitive markets.
B)monopolistically competitive markets.
C)oligopolistic markets.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The behavior of firms in oligopolistic markets, where there are only a few major players, is heavily influenced by strategic considerations. Understanding how firms in this market structure interact with each other, such as through pricing and advertising strategies, is important in predicting market outcomes. While knowledge of individual behavior may be important in other market structures, such as in perfectly competitive markets with many small firms, it is not as critical for understanding overall market dynamics.

We Must Be Knowledgeable of How People Behave in Strategic