In a Nash Equilibrium, no player can gain by unilaterally changing their strategy. This means that each player's strategy is optimal given the strategies of the other players, leading to a stable outcome. This concept is crucial for analyzing competitive strategies in economics, particularly in _____ markets.

Nash Equilibrium is an important idea in game theory that helps us understand how players make decisions in competitive situations. In a Nash Equilibrium, each player has chosen a strategy that works best for them, considering what the other players are doing. This means that if any one player tries to change their strategy alone, they won’t get a better outcome, so everyone sticks to their choices. This idea is especially useful in economics when looking at markets like oligopolies, where a few companies compete with each other and their decisions affect one another. For example, if two companies set their prices too high, they may lose customers, but if they lower their prices too much, they might hurt their profits; finding the right price that keeps both companies stable is where Nash Equilibrium comes in.