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Briefly describe primary and secondary tension.
Used Cars
Used cars that were once registered and are now on the market for purchase, typically at a reduced cost compared to brand-new vehicles.
Marginal Products
The additional output obtained by employing one more unit of a certain input while keeping other inputs constant.
Separating Equilibrium
A concept in game theory where different types of participants (players) choose different strategies, revealing their type in the process.
Pooling Equilibrium
An outcome where market participants with different characteristics choose indistinguishable actions, making it impossible to differentiate between them based on their choices.
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