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Nonprice Competition
Competition based on distinguishing one’s product by means of product differentiation and then advertising the distinguished product to consumers.
Independent Pricing
A pricing strategy where prices are set based on internal considerations or costs rather than being influenced by competitors or market prices.
Diagram
A graphical representation used to illustrate relationships, data, or processes in a clear and concise manner.
Duopoly Game
A market structure characterized by two firms controlling the majority of the market share, often analyzed in game theory to predict outcomes.
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