verb
concede
kuhn-SEED/kənˈsiːd/
To yield a disputed point or possession, often reluctantly.
The man concedes the point when the broken part confirms his colleague's explanation.

Etymology
The root's idea of giving way became yielding a point in argument: admitting its truth rather than continuing to resist it. The prefix may be intensive.
In context
I am still waiting to hear if you are going to concede. If you're not willing to admit you were wrong, I don't know what the point is.
More examples
- I concede that your plan costs less.
- The company reluctantly concedes control of the project to its partner.
- The candidate conceded the election after the final votes were counted.
Forms
concede · concedes · conceded · conceding
concession noun — An acknowledgment or something yielded in a dispute.