Examlex
Dimes minted in the United States average 2.286 g with a standard deviation of 0.06 g.
Nickels have a mean of 5.000 g and a standard deviation of about 0.08 g. A couple
chemistry students were trying out their teacher's new scale by weighing a bunch of coins.
They found a nickel that weighed 5.19 g and a dime that weighed 2.45 g. Which coin was
more exceptionally heavy? Explain.
Price-leadership Model
A market strategy where one leading company sets the price for goods or services, and others in the industry follow suit.
Dominant Firm
A company that has a major share of total sales in a particular market, giving it significant control over market prices and competition.
Oligopoly
A market structure characterized by a small number of firms controlling a large majority of the market share, leading to limited competition.
Dominant Price Leader
A firm that has the biggest market share in an industry and whose price changes are usually followed by other firms in the market.
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