Examlex
______________ refers to how a product is conceived, planned, and produced.
Oligopolization
The process of market concentration where a few large firms begin to dominate an industry, often leading to reduced competition and higher prices for consumers.
Game Theory
The study of how people behave in strategic situations.
Colluding Oligopolist
Firms in an oligopoly market structure that secretly agree to set prices or limit production to maximize joint profits, acting against free market principles.
Oligopolistic Firms
are companies operating in a market structure characterized by a small number of firms controlling a large market share, leading to limited competition.
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