Examlex
Explain how natural wetland loss can occur by both human and natural causes and discuss two ways humans contribute to natural wetland loss.
Lerner Index
An economic measure of a firm's market power, calculated as the difference between price and marginal cost relative to price.
Monopolistically Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition primarily through product differentiation.
Cournot Equilibrium
A situation in an oligopoly in which each company chooses its production level assuming the output of its competitors, resulting in a stable market output.
Collusion
An agreement between firms to limit competition, set prices, or divide markets, which usually distorts the outcomes of a free market.
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