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Carol Zelner, the manager of a small event management company, is known for her efficiency. She provides the team with clearly defined tasks, guidelines, and directives. Further, she is always available to provide feedback or resolve troubles. Recently, with Carol on leave for about three weeks, the team had a lot of problems. The team members lacked the requisite information on client details, locations, and budgets and had to repeatedly cross-check with each other or the clients. Which of the following, if true, would best explain the problems faced by Carol's team currently?
Cooperate
The act of working together towards a common goal or interest, often seen in contexts where individuals or entities join forces for mutual benefit.
Nash Equilibrium
is a concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged.
Cartels
Groups of independent market participants who collude with one another to manipulate the price of a good or service in the market.
Monopoly Outcome
The result of a market condition in which a single company or entity has exclusive control over a particular good or service, leading to limited competition.
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