Examlex
How much detail does the Constitution provide about the requirements for federal judicial service compared to the requirements to serve as president or in Congress?
Legal
Pertaining to laws or the system of rules that a particular country or community recognizes as regulating the actions of its members.
Cartel
An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize overall profits.
Tacit Collusion
A situation where firms in the market indirectly coordinate actions by understanding common interests without explicit agreement, often leading to higher prices or less competition.
Marginal Costs
The additional cost incurred by producing one more unit of a good or service; this cost can vary with the level of production.
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