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Economically Inefficient Outcomes
Situations where resources are not allocated optimally, resulting in lost potential utility or value.
Economists
Professionals who study the production, distribution, and consumption of goods and services.
Deregulation
The reduction or elimination of government power in a particular industry, usually with the aim of creating more competition within the industry.
Monopoly
A market structure characterized by a single seller who has exclusive control over the supply and pricing of a unique product or service.
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