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Fit & Flare is a fitness equipment manufacturer. It sells its equipment directly to the public through its own stores at a huge discount. From the given scenario, it can be concluded that Fit & Flare is a(n) _____.
Dominant Strategy
A strategy in game theory that provides the best payoff to a player, regardless of the opponent's moves.
Firm A
A placeholder name often used to denote a generic business entity in theoretical discussions or examples.
Oligopoly Model
An economic model that describes a market structure in which a few firms dominate the industry and have the ability to influence prices and other market outcomes.
Product Variety
The range of different products or services offered by a company or available in a market, catering to varying preferences and needs.
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