Examlex
What exactly is a DNA library? What is a genomic library?
Collusive Outcome
A situation in which firms in a market or industry agree to set prices or output levels cooperatively, often leading to higher prices for consumers.
Maximin Strategy
A decision rule used in situations of uncertainty to maximize the minimum gain that can be secured.
Equilibrium
A state where market supply and demand balance each other, and, as a result, prices become stable.
Dominant Strategy
In game theory, a strategy that is best no matter what the opposition does.
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