Which of the following statements is correct?
a. Strategic situations are more likely to arise when the number of decision-makers is very large rather than very small.
b. Strategic situations are more likely to arise in monopolistically competitive markets than in oligopolistic markets.
c. Game theory is useful in understanding certain business decisions, but it is not really applicable to ordinary games such as chess or tic-tac-toe.
d. Game theory is not necessary for understanding competitive or monopoly markets.
d
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Economists believe that the best way to stimulate investment in physical capital is to encourage:
A) higher rates of investment in human capital. B) more spending on infrastructure. C) the conservation of natural resources. D) higher rates of national savings.
What is meant by operating profit or net operating revenue?
What will be an ideal response?