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What are the units of the gas constant "R" when the pressure is given in atmospheres, the volume is given in liters, the amount of the gas is given in moles and the temperature is given in Kelvin?
Collusive Duopoly
A situation where two firms in a market agree to collaborate, often secretly, to increase their joint profits by agreeing on prices or output levels.
Extensive Form
A representation of a game in decision tree format, showing the sequence of moves, possible strategies, and outcomes.
Credible Threat
In a sequential game with two players, a statement made by Player 1 that truthfully (credibly) threatens a penalizing action against Player 2 if Player 2 does something that Player 1 does not want Player 2 to do. Opposite of empty threat.
Coercion
Coercion refers to the practice of persuading someone to do something by using force or threats.
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