Use the following graph shown to fill in the table that follows.
Definitions:
Sequential Decision
A process of making decisions one after another, where each decision is dependent on the outcome of previous decisions.
Collusion
An agreement, usually secretive, between two or more parties to limit competition, set prices, or manipulate market conditions.
Cartel Members
Firms or entities that agree to control prices and production to monopolize a market or restrict competition.
Incentive To Cheat
The motivation or tendency to deceive or engage in dishonest practices for personal gain, often seen in competitive situations.
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