Question

Game theory is an approach to analyzing _____ behavior using mathematics and simulations, assumptions about the players, time, level of information, strategies, and other aspects of the game.

Answer 1

Answer: Oligopoly

Explanation:

According to the question, the game theory is one of the concept for analyzing the oligopoly behavior by using the simulations and the mathematics about the time, strategy and the level of knowledge and information.

The game theory is basically known as the analytical approach where the different types of strategic plan are access for an oligopoly organization by using the various types of product development method and the marketing strategies.

Therefore, oligopoly is the correct answer.