Examlex
What are the differences between the balance of power and collective security? Be sure to provide examples that highlight your argument.
Collude
To collude means to cooperate or conspire in secret, especially with the intention to cheat or deceive others, such as companies agreeing to fix prices.
Total Revenue
The total amount of money generated by a company from sales of its products or services before any expenses are subtracted.
Price Effect
The impact on the market when there is a change in the price of goods or services, influencing the supply and demand.
Output Effect
The change in total revenue resulting from the production of additional units of output in a competitive market.
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