Question

Amco Airlines decides to lower its price in response to UN Airlines' price reduction. In game theory, this response is called:a) players.b) information.c) a strategy.d) an outcome.

Answer 1

a strategy

Step-by-step explanation:

Throughout game theory, the strategy of a participant is one of the choices that he or she selects in a situation in which the result relies not upon their own decisions but on outsiders 'actions. The strategy of the participant will decide the move that the player must perform at a certain point in the game.

A participant has limited strategy collection if they have many distinct tactics at their fingertips. For example, a stone-paper-scissors game requires a single decision by each participant— and the step of each participant is done without awareness of the other's, not just as a reaction— so that each player has the limited strategy package.