Examlex
Heart rate and respiratory rate are two aspects of a newborn's condition that are observed and scored when administering the Apgar scale.
Geographic Concentration
The phenomenon where certain industries or businesses are clustered in specific regions, often due to advantages like resources or skilled labor.
X-Inefficiency
X-Inefficiency occurs when a firm fails to use its resources efficiently due to a lack of competitive pressure.
Differentiated Oligopoly
A market structure in which a few firms dominate the market by selling products that are distinct yet somewhat substitutable, focusing on product differentiation to maintain competitive advantage.
Price Leadership
An informal method that firms in an oligopoly may employ to set the price of their product: One firm (the leader) is the first to announce a change in price, and the other firms (the followers) soon announce identical or similar changes.
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