Examlex
If costs are not responsive to changes in activity level then these costs can be best described as
Economies of Scale
The cost advantage that arises with increased output of a product, as fixed costs are spread over more units of production.
Price Competition
A market situation where sellers compete primarily on the price of their goods or services, often leading to lower prices for consumers.
Oligopolistic Industries
Markets or industries dominated by a few large firms, where each firm has some market power and their decisions affect each other.
Celler-Kefauver Act
A United States antitrust law passed in 1950 aimed at preventing anticompetitive mergers and acquisitions that might reduce competition.
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