Examlex
In positive punishment,a behavior increases when it is followed by the presentation of a stimulus.
Monopoly
A market structure characterized by a single seller, selling a unique product in the market with no close substitutes.
Purely Competitive Industry
An industry characterized by many buyers and sellers, free entry and exit, and a standardized product, leading to firms being price takers.
Monopolist
A market participant that is the sole provider of a good or service, thus controlling the entire market and having the ability to set prices unilaterally.
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