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According to Cournot cheating,assuming little or no product differentiation among a small number of firms,if one firm decides to cheat on a collusive agreement by reducing its prices,others will as well and,in the long run,firms in this industry will earn no economic profits.
Group Decision Making
It refers to the process by which a group of individuals come together to analyze problems, consider solutions, and agree upon a course of action.
Increased Member Commitment
A state where members of a group or organization show a higher level of dedication and loyalty towards achieving collective goals.
Stimulating Conversation
Engaging and thought-provoking dialogue that encourages participants to exchange ideas, innovate, or reconsider their perspectives.
Information Exchange
The process of sharing or transferring information between parties or systems.
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