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Price Competition
A market situation where businesses attempt to attract customers by systematically lowering the prices of their goods or services, often resulting in narrower profit margins.
Labor Negotiation Game
A strategic interaction between employers and employees or their representatives aimed at establishing terms of employment, including wages and working conditions.
Payoffs
The returns or benefits received from an investment or decision.
Bargaining Hard
The process of negotiating firmly and assertively to reach a desired agreement or outcome.
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