A ________ consists of a set of players,a set of strategies available to those players,and a specification of the payoffs to each player for each possible combination of strategies.
A) tournament
B) competitive market
C) game
D) firm
E) monopolistically competitive market

Question

Quizplus · Accepted Answer

This is the definition of a game in game theory. A tournament is a competition between individuals or teams. A competitive market is a market with many buyers and sellers where no single buyer or seller can affect the market price. A firm is a business organization that produces and sells goods or services. A monopolistically competitive market is a market with many firms selling differentiated products.

A ________ Consists of a Set of Players,a Set of Strategies