Across
- 3. occurs when firms act in a way that does not involve collaboration with other players in the market
- 5. a simple two-firm, two-outcome model
- 6. one firm dominates 25% or more of the market
- 7. a model used in game theory to question whether firms might not collude, even if it appears that it is in their best interests to do o, or vice versa
- 10. involves firms acting as one through an agreement
- 11. means that the actions of one agent depend on the actions of another
Down
- 1. tax on profits
- 2. involves one firm alone dominating the market
- 4. the study of strategies used to make decisions
- 8. unrecoverable costs, costs which cannot be recouped if the firm closes down
- 9. any person or group that has a vested interest in a firm