The Transportation Mode for Items That Can Be Digitized and Sent

question 32

Short Answer

The transportation mode for items that can be digitized and sent through the Internet is termed __________.

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Definitions:

Bertrand Duopoly

A market structure in which two companies compete on price, each one strategically setting its prices in response to the prices of the other.

Nash Equilibrium

A situation in a game where no player can benefit by changing their strategy while the other players keep theirs unchanged.

Bertrand Model

A model in economics that describes interactions in a market structure where firms compete on price.

Payoff Matrix

A table that shows the potential outcomes and payoffs for each combination of strategies between players in a strategic game.