When Decisions Are Guided Strictly by Short-Run Gains, This Is

question 58

Multiple Choice

When decisions are guided strictly by short-run gains, this is known as

• A) opportunistic behavior.
• B) the prisoners' dilemma.
• C) tit-for-tat strategy.
• D) a positive-sum game.

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Definitions:

Per Se Violation

A restraint of trade that is so anticompetitive that it is deemed inherently (per se) illegal.

Sherman Act

is a foundational antitrust law in the United States that prohibits monopolies and other practices that restrain trade.

Fix Prices

An illegal agreement between parties to sell a product at a set price, limiting competition and violating antitrust laws.

Predatory Pricing

The pricing of a product below cost with the intent to drive competitors out of the market.