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What is an indenture agreement?
Oligopoly
A market structure in which a few companies dominate the industry, having significant control over prices and supply.
Monopolistic Competition
A trading environment where countless firms peddle products that bear resemblance but are not exact duplicates, offering them a fragment of control in the marketplace.
Pure Monopoly
A market structure where a single firm controls the entire market for a product or service, with no close substitutes and significant barriers to entry.
Allocatively Inefficient
A situation where resources are not distributed in a way that maximizes the benefits to society, often leading to a loss of economic welfare.
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