Examlex
Use a formula for perimeter or area to solve the problem.
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Marginal Cost
The uplift in total expenditure caused by the production of one more unit of a product or service.
Fixed Cost
Costs that do not change with the level of output produced, such as rent, salaries, and insurance.
Cartel
An agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices and restricted supply.
Duopoly
A market structure in which two companies own all or nearly all of the market for a given product or service.
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