A dance at the edge of the world on Duopoly. The market situation in which there are only two sellers of a particular good (c> economic good) or service. The essence of this situation is that the actions of one seller affect the position of the other and will induce some sort of response from him. Each firm cannot then predict the precise consequences of its own actions unless it can also predict the reaction of its competitor. This is the characteristic problem of oligopoly in an acute and simplified form, so the duopoly model was often used to analyse oligopolistic situations. Without assuming something about the reactions of the two firms involved, it is impossible to find a determinate equilibrium solution in the market. However, one problem is that there is a range of possible assumptions which could be chosen and which generally give different results, cournot, a. A dance at the edge of the world 2016.
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A dance at the edge of the world on PR abbreviation for progressive ratio. See PROGRESSIVE-RATIO SCHEDuLE. practical intelligence the ability to apply one’s intelligence in practical, everyday situations. In the TRIARCHIC THEORY OF INTELLIGENCE, it is the aspect of intelligence that requires adaptation to, shaping of, and selection of new environments. Compare ANALYTICAL INTELLIGENCE; CREATIVE INTELLIGENCE. practical intelligence task a task requiring the display of practical know-how, such as consulting a map to find a location or using arithmetic to compute the prices of tickets to an athletic event. Such tasks also may require tacit knowledge that typically is not explicitly taught and that often is not even verbalized that is, knowledge about adapting to, shaping, or selecting an environment. A dance at the edge of the world 2016.