Why Oligopoly and Game Theory?
Your Tasks |
Oligopoly is the fourth of the market structures. Game theory is used to explain how two or more players make decisions or choose actions when their actions affect each participant.
Each year on the AP Economics exam, there are several questions that deal with game theory and being able to understand a payoff matrix. There have also been a number of Free Response Questions that have dealt with game theory. This lesson will help to prepare you for them. |