Examlex
Which of the following is not a characteristic of a liberal democracy?
Fuel-efficient Cars
Vehicles designed to use less fuel for the same distance traveled compared to standard vehicles, typically through advanced technology or design.
Concentration Ratio
A measure that assesses the level of market concentration, indicating the combined market share of the top firms (usually the top 4 or 8) in the industry.
Kinked Demand Curve
The demand curve for the cutthroat oligopolist, which is based on the assumption that competitors will match a price cut, but will not match a price increase.
Collusive Oligopoly
A market condition where a few companies or entities cooperate to restrict competition and control prices for their mutual benefit.
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