Which of the Following Statements Is Correct

question 304

Multiple Choice

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.