Examlex
What is the purpose of the exhaust system and what are its components?
Regional Monopoly
A regional monopoly exists when a single firm dominates the market for a particular good or service in a geographic area.
Herfindahl-Hirschman Index
A measure of market concentration that squares and then sums the market shares of all firms within an industry, indicating the level of competition.
Game Theory
A theoretical framework for conceiving social situations among competing players and for predicting their choices of strategic actions.
Open Collusion
A situation where firms openly agree on prices, production levels, or market shares, violating competition laws.
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