Question

Game theory is useful in analyzing oligopoly behavior because: advertising is so common among oligopoly firms. it explains why oligopolies fail to make persistent profits. interaction among a few large firms are what determines the level of profits. trying to maximize profits is essentially a game in all types of markets.

Answer 1

I think the answer is trying to maximize profits is essentially a game in all types of markets. Oligopoly is focused on monopolizing all the markets by gaining much profit that would make it dominate the businesses. This can help players understand strategic skills in marketing.