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A perfectly competitive firm will maximize profits when:
BATNA
Best Alternative to a Negotiated Agreement, the most advantageous alternative course of action a party can take if negotiations fail and an agreement cannot be reached.
Resistance Point
In negotiation, the least favorable point at which a party is willing to accept a deal, beyond which they prefer to walk away.
BATNA
Best Alternative to a Negotiated Agreement; the best option one has if current negotiations fail.
Fixed-Pie Bias
The misconception in negotiations that the 'pie' or total available benefit is fixed, leading to competitive rather than cooperative strategies.
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