Examlex
A good friend tells you that she has to cancel an activity you were going to do together. If you are listening for her intent, you might ask why she has to cancel.
Cartel
A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices.
Marginal Cost
Marginal Cost is the cost of producing one more unit of a good or service, a crucial concept in economics for decision-making and pricing strategies.
Cartel
A formal agreement among competing firms in an industry to control prices, limit output, or divide markets.
Total Industry Output
The aggregate production of goods and services in a specific industry within a given period.
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