Antitrust and Oligopoly

Laws that prevent anti-competitive behavior among firms.

A United States antitrust law that bans collusion among firms.

A United States antitrust law that strengthens antitrust regulations.

A market structure dominated by a few large firms.

The proportion of market share controlled by the largest firms in the market.

The study of strategic decision-making, especially in situations where the outcome of a firm depends on the actions of other firms.

A market structure with only two dominant firms.

An agreement among firms to fix prices or limit output.

A group of firms that act together to control the market, like a monopoly.

A stable state in game theory where each player's strategy is the best response to the strategies of others.

The decrease in price caused by increasing output.

The increase in revenue caused by increasing output.

A situation where individual self-interest leads to a suboptimal outcome for all parties.

A strategy that is optimal for a player regardless of what other players do.

A strategy in game theory where a player copies the opponent's previous move.

An equilibrium where firms act in their own self-interest without cooperation.

A practice where manufacturers set a minimum resale price for retailers.

A strategy of setting prices below cost to drive out competitors.

Selling multiple products together as a package.

Intense price competition among airlines, often resulting in very low fares.