Examlex
How do scientists measure the age of rocks at mid-ocean ridges?
Prisoners' Dilemma
A situation in game theory where two individuals acting in their own self-interest do not produce the optimal outcome, showcasing the conflict between personal and collective rationality.
Tying
Tying is a sales technique where a seller requires the purchaser of one product to also buy another, secondary product.
Monopoly
A market structure in which a single seller controls the entire supply of a product or service, and hence, the price, effectively blocking entry for any competitors.
Prisoners' Dilemma
A scenario in game theory in which two individuals acting in their own self-interest do not achieve the optimal outcome, illustrating the conflict between individual and collective rationality.
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