Examlex
Match each term below with the appropriate description.
-Absence seizures
Imperfectly Competitive Markets
Markets in which individual sellers have some control over the price due to product differentiation, barriers to entry, or other factors, unlike in perfect competition.
Competition
Economic rivalry among businesses fighting for the same customers or markets, characterized by the struggle to attract customers, lower costs, and improve products and services.
Market Power
Refers to the ability of a company or firm to raise and maintain prices above the level that would prevail under competition.
Raise Price
The action of increasing the cost at which goods or services are sold, often to reflect increased costs or to improve profit margins.
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