Examlex
The argument that democracies do not go to war with one another because leaders have to appeal to larger coalitions to survive politically and, therefore, choose wars only with nondemocratic countries in which democracies enjoy an advantage in mobilizing military resources is an example of an argument from the individual level of analysis.
Competitive Aspects
Features of a market structure that determine the level of competition within it, affecting pricing, product diversity, and the ability of firms to enter or exit the market.
Representative Firm
A hypothetical or average firm which is used as a standard or model to represent typical characteristics of firms in an industry.
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, leading to competition based on price, quality, and branding.
Normal Profit
The minimum level of profit needed for a company to remain competitive in the market, essentially covering opportunity costs.
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