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Prisoners' Dilemma
A scenario in game theory showing why two rational individuals might not cooperate even if it's in their best interest to do so.
Collusive Agreement
An arrangement among competing firms to coordinate actions or fix prices, often in secret, to limit competition.
Effective Collusion
Coordinated action taken by competitors to control prices or market conditions in a way that circumvents normal market competition.
Low Entry Barriers
Conditions in a market that make it easy for new firms to enter, such as low startup costs or minimal regulations.
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