Which of the following statements accurately reflect concepts of game theory in oligopolistic markets? Select all that apply.

Game theory helps us understand how companies in an oligopoly, which is a market with a few dominant players, make decisions that affect each other. Each company must consider what its competitors might do when setting prices or making production choices. For example, if one company lowers its price, others might follow to remain competitive, leading to a price war that affects profits for all. This interdependence means that companies often use strategies like collusion, where they agree to limit competition, to maximize their overall profits. Understanding these concepts helps explain the complex interactions and strategies used by companies in oligopolistic markets.