Examlex
Conformity that occurs when people accept evidence about reality that is provided by other people is called:
Competitors
Other businesses or individuals that offer similar goods or services within the same market, competing for the same customers.
Oligopolist
A market participant in an oligopoly, where a small number of firms dominate the industry, influencing prices and market conditions.
Kinked Demand Curve
A theory in economics that suggests that prices in a monopolistic competition scenario may remain stable because competitors will match price decreases but not price increases.
Price
The amount of money expected, required, or given in exchange for something.
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