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Payoff Matrix
A table that describes the potential outcomes of a game or decision involving multiple players, showing the payoffs for each strategy combination.
Dominant Strategy
An action in game theory that yields the best outcome for a player, regardless of what the other players do.
Low Price
A cost that is relatively small or lower than average.
Payoff Matrix
A table that shows the potential outcomes of different decisions made by players in a strategic game, taking into account each player's choices and strategies.
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