Examlex
The ____ refers to the phenomenon that IQ scores have risen sharply since the beginning of IQ testing.
Prisoners' Dilemma
A scenario in game theory where two individuals acting in their own self-interest do not achieve the optimal outcome.
Payoffs
The outcomes or rewards received as a result of choosing a particular strategy or course of action.
Dominant Firm Model
A market structure in which one firm has a major share of total sales and sets the price for the whole market, influencing the behavior of smaller competitors.
Fringe Firms
Fringe firms are smaller companies in a market that compete alongside the larger, dominant firms, typically having a minimal market share.
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