Examlex
Explain what the Like operator does.
Nonprice Competition
Competition in areas other than price to increase sales, such as new product features and advertising; especially engaged in by firms that have a tacit understanding not to compete on price.
Nash Equilibrium
A concept within game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.
Price Leadership
A pattern of behavior in which one firm sets its price and other firms in the industry follow.
Big Three
Refers to the three major American automotive companies: Ford, General Motors, and Chrysler.
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