Examlex
Explain the difference in the cost of processing cheques and EFTPOS instructions.
Separating Equilibrium
A situation in economics where different types of market participants can be distinguished based on their actions or decisions.
Pooling Equilibrium
A situation in game theory where different types of players choose the same strategy, making it impossible for observers to differentiate between them based on their actions.
Microeconomics
A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.
Wage Cut
A reduction in the hourly rate or salary paid to an employee by an employer, often due to economic pressures or company performance.
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