Examlex
What were the two most basic characteristics of the Enlightenment?
Difference
The result of subtracting one value from another, often used in various contexts like mathematics, statistics, and economics.
X-Inefficiency
The difference between efficient behavior of businesses in a competitive market and their actual behavior due to a lack of competitive pressure.
Pure Competition
A market structure characterized by an unlimited number of small sellers, identical products, and free entry and exit, leading to perfect competition.
Oligopoly
A market structure in which a few companies dominate the industry, having significant control over prices and supply.
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