Question

Why is mutual interdependence important under Oligopoly but not so important under Perfect Competition, Monopoly or Monopolistic Competiton? How would Game Theory feature in your response?

Answer 1

ANSWER :-

☆Mutual interdependence important under Oligopoly than in different markets is because of the way that it is the market which is restraining infrastructure with a separated item from one another

● This stands genuine just when there is separation in the items created by the players in the advertise.

●Henceforth, reliance assists with delivering separated and one of a kind items as opposed to duplicating each other's models.

☆Game Theory feature in my response is:

●Game theory  is a theoretical  system for imagining social circumstances among contending players. In certain regards.

●Game theory  is the study of system, or possibly the ideal dynamic of autonomous and contending on-screen characters in a vital setting.

●The key pioneers of game theory were mathematician John von Neumann and business analyst Oskar Morgenstern during the 1940s.

●Mathematician John Nash is viewed by numerous individuals as giving the primary huge expansion of the von Neumann and Morgenstern work.

●Utilizing game theory, genuine situations for such circumstances as estimating rivalry and item discharges (and some more) can be spread out and their results anticipated.

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