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Anger and aggression
Monopolistically Competitive
A marketplace configuration in which a wide variety of firms supply products that are analogous but not identical, thereby granting them a modicum of market influence.
Elastic
A characteristic of goods where their demand or supply changes significantly when the price changes.
Monopolistic Competitor
A market structure where many firms offer products or services that are similar but not perfect substitutes, allowing for some degree of market power.
Excess Capacity
describes a situation where a firm produces less than its total output capacity, usually resulting in inefficiencies and higher production costs.
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