Examlex
By which of the following means can the internal energy of a substance be increased?
I.cooling the substance
II.performing work on the substance
III.heating the substance
Collusive Duopoly
A situation where two firms in a market agree to collaborate, often secretly, to increase their joint profits by agreeing on prices or output levels.
Extensive Form
A representation of a game in decision tree format, showing the sequence of moves, possible strategies, and outcomes.
Credible Threat
In a sequential game with two players, a statement made by Player 1 that truthfully (credibly) threatens a penalizing action against Player 2 if Player 2 does something that Player 1 does not want Player 2 to do. Opposite of empty threat.
Coercion
Coercion refers to the practice of persuading someone to do something by using force or threats.
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