Why Do Economists Refer to the Pricing Strategies of Oligopoly

question 1

Essay

Why do economists refer to the pricing strategies of oligopoly firms as a prisoner's dilemma game?

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Definitions:

HR Strategy

An organization’s approach to managing its human resources, designed to align HR practices with business objectives to gain a competitive advantage.

HR Shortage

A situation in which there are insufficient qualified candidates available to fill the required positions within an organization.

Engineering Personnel

Professionals involved in the application of engineering principles and techniques in designing, developing, and maintaining systems, machines, or structures.

HR Supply Model

This model forecasts the supply of human resources available within an organization to meet its strategic needs.