In the airline industry,tit-for-tat strategies have frequently led to

Question

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Tit-for-tat strategies in the airline industry often lead to price wars, where airlines continuously match each other's prices and engage in a race to the bottom, ultimately reducing profits or even leading to losses. This is because each airline is trying to gain or maintain market share by offering lower fares, which can ultimately harm the entire industry.

In the Airline Industry,tit-For-Tat Strategies Have Frequently Led to