Examlex
Which of the following was an important geopolitical thinker in the study of international relations?
Collusively
Involves cooperation among competing firms to control market prices or exclude new competitors, contrary to free market principles.
Economic Profits
The surplus remaining after subtracting total costs from total revenues, including both explicit and implicit costs.
Positive Economic Profits
Positive economic profits occur when a firm's total revenues exceed its total costs, inclusive of both explicit and implicit costs.
Monopolist
An entity that is the sole provider of a particular product or service in the market, possessing the power to significantly influence prices and supply.
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