Examlex
When a firm tries to increase its total sales by offering new products to new markets,it's pursuing
Nash Equilibrium
A concept in game theory where no participant can gain by changing strategies if the other participants' strategies remain unchanged.
Diagram
A basic illustration that depicts the look, framework, or function of something through a schematic outline.
Collude
Collude means to cooperate with others, usually in secret, especially with competitors to achieve a deceitful purpose, like fixing market prices.
Payoff Matrix
A payoff matrix is a table that shows the potential outcomes or payoffs from different strategies chosen by players in a strategic game.
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