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Duopoly Market
A market structure dominated by only two producers or sellers, leading to a form of competition that significantly impacts pricing and output decisions.
Merging Firms
The process where two or more companies combine into a single company, often to expand market share, reduce costs, or increase competitiveness.
Identical Product
A product that is exactly the same in every feature, quality, and production process with another product, making them interchangeable.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged, indicating an optimal state of balance.
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