Examlex
The objectives of two astronomical telescopes have the same focal length but one objective has double the diameter of the other. An advantage of the telescope with the larger objective is
Equilibrium
An equilibrium in the market where demand equals supply, causing price stability.
Kinked-demand Model
A model used to explain price stability in oligopolistic markets, suggesting that firms may not change their pricing in response to small changes in costs or demand due to a perceived kink in the demand curve.
Price Increases
A rise in the cost of goods and services over a period of time, often measured as a percentage.
Price Cuts
Reductions in the selling price of goods or services, often used as a strategy to increase demand or compete more effectively in the market.
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