Key Terms

Question

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

Interdependence

Duopoly

Duopolist

Collusion

Cartel

Noncooperative behavior

Game theory

Payoff

Payoff matrix

Prisoners’ dilemma

Dominant strategy

Nash equilibrium

Noncooperative equilibrium

Strategic behavior

Tit for tat

Tacit collusion

Antitrust policy

Price war

Product differentiation

Price leadership

Nonprice competition

Zero-profit equilibrium

Excess capacity

Brand name