Examlex
The indirect conversion detector uses:
Oligopoly
An oligopoly is a market structure characterized by a small number of large firms that dominate the market, leading to higher prices and restricted output compared to a competitive market.
Differentiated Products
Products that are distinct from one another on the basis of quality, design, features, branding, or some other attribute.
Standardized Products
Goods that are uniform in quality and specifications across producers and can be easily substituted for one another.
Strategic Behavior
Actions taken by firms or individuals that consider the anticipated responses or strategies of other market participants or competitors.
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