Examlex
Explain what decisions and calculations a firm must make when it is considering the purchase of new capital (i.e.,making an investment decision).
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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