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Describe how inflation can be costly even if it is anticipated.
Competing Airlines
Airlines that operate in the same markets and compete against each other for customers, often resulting in various pricing and service strategies.
Dominant Strategy
In game theory, a strategy that is the best for a player regardless of what strategies other players use, leading to an optimal outcome for the player employing it.
Optimal
The most favorable condition or level of efficiency at which the desired outcome or operation is most effective or functional.
Opponent
An individual or group that competes against or disagrees with another in a contest, conflict, or debate.
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