Assumptions Are

question 98

Multiple Choice

Assumptions are:

• A)deeply held beliefs that guide behavior of organized members
• B)widely known and formally communicated throughout the organization
• C)behavioral tendencies or enacted values
• D)unwritten rules of conduct frequently violated by new employees

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Definitions:

Nash Equilibrium

A situation in a non-cooperative game where each player's strategy is optimal given the strategies of the other players, and no unilateral deviation can be beneficial.

Cartel Output

The total level of production agreed upon by members of a cartel, who coordinate their pricing and output to maximize collective profits.

Jointly Maximize Profits

A strategy where firms coordinate their actions to increase their collective profits rather than competing with one another.

Agreement Breach

A failure to fulfill the terms of a contract or agreement, which can lead to legal action for resolution.