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Why is ratification considered one of the stages through which negotiations proceed? (Pages 210-211)
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies if the strategies of the other players remain unchanged.
Oligopoly
A market structure characterized by a small number of firms controlling a large market share, leading to limited competition.
Collusion
An agreement among firms in a market about quantities to produce or prices to charge
Clayton Act
A U.S. antitrust legislation enacted in 1914, aimed at promoting competition and preventing unfair business practices.
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