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Which statement CORRECTLY describes a phase change concerning water?
First-Mover Advantage
A competitive edge that companies gain by being the first to enter a specific market or industry with a product or service.
Maximin Strategies
Decision-making strategies that maximize the minimum gain that can be achieved, often used under uncertainty.
Public Auctions
Sales events open to the public where goods or properties are sold to the highest bidder.
Excessive Bids
Bidding amounts that significantly exceed the estimated value of an item in auctions or tender processes.
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