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Which of the following is NOT used as a friction material in NAO brake pads?
Competitive Market
A market structure characterized by a large number of sellers and buyers, where no single entity can dictate prices or market conditions.
Market Price
The current price at which a good or service can be bought or sold in a given market.
Economic Profits
Profits calculated by subtracting both explicit and implicit costs from total revenues, representing the additional income earned over and above the opportunity costs.
Competitive Market
A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which each seller offers an identical product.
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