Examlex
Describe life in Classical India.
Oligopoly
A business environment where only a few enterprises have strong dominance in controlling market prices and the competitive landscape.
Marginal Cost
The monetary cost of fabricating one more unit of a product or service.
Marginal Revenue Curve
A graphical representation showing how marginal revenue varies with changes in quantity sold.
Kinked
Often relating to the kinked-demand curve seen in oligopolistic markets, where firms face a price elasticity that abruptly changes as prices increase or decrease.
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