Question

The point of ______ it to get companies to think about the broader market, rather than only optimizing their own needs. This can avoid price wars.

A. conjoint analysis
B. game theory
C. elasticity
D. Competition

Answer 1

B. Game theory.

Step-by-step explanation:

This said theory was first geared by a mathematician John von Neumann and also an economist Oskar Morgenstern in the 1940s.

It is explained to be a science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting.

It is a strategy which explains also that decision making is seen to depend on what the opposing or counter player is seen to do in may cases. Therefore what a lot of people tag to be luck or even a pure or natural chance is said to be eliminated by the plans which has been put to place by the opposing players.