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In which part of a straight stream channel is the water moving fastest?
Prisoners' Dilemma
A scenario in game theory where two individuals acting in their own best interest do not produce the optimal outcome for the group.
Cournot Output Choice
A model in economic theory where firms choose their output levels assuming competitors' outputs are fixed, aiming to maximize their own profit.
Pure Strategy Equilibrium
A concept in game theory where each player's chosen strategy provides the best outcome, given the strategies chosen by other players.
Nash Equilibrium
A situation in a strategic game where each player has chosen a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged.
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