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Suppose the only two gas stations in town have a secret agreement to maintain high gas prices to their mutual benefit. If one gas station decides to try to gain some market share by lowering its prices for a day and the other gas station retaliates by permanently lowering its prices, the retaliating gas station has employed a _____ strategy.

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The retaliating gas station has employed a grim trigger  strategy.

What is grim trigger strategy?

Grim trigger strategy can be defined as the way in which a two parties or two people enter into an agreement in which  because one of them decide to defect from the agreement  and the second person as well defect from the agreement.

Based on the scenario we can say that  the retaliating gas station has employed a grim trigger  strategy.

Learn more about grim trigger  strategy here:https://brainly.com/question/984979

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