Examlex
Stockout costs arise when a company runs out of a particular item for which there is customer demand.
P > MC
A condition suggesting that the price of a product is greater than its marginal cost, which is often used to indicate potential profitability in a competitive market.
Payoff Matrix
A table that shows the potential outcomes of a strategic decision made by two or more players, highlighting the benefits or losses based on each player's decisions.
Dominant Strategy
A strategy in game theory that is best for a player, regardless of the strategies chosen by other players.
Price High
Typically refers to a situation where the price of a good or service is higher than usual, which can result from high demand, low supply, or other market conditions.
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