Answer:
False
Explanation:
Game theory is the way of analysing the strategic decision making between rational agents participating in a game.
Game theory is usually used to analyse the decision making process of firms in an oligopoly.
An oligopoly is when there are few large firms operating in a market. Pricing decisions are made either through price leadership or a collusion.
Game theory is used to analyse if cooperating in a collusion would yield the highest payoffs to the participating firms.
I hope my answer helps you.
