Examlex
Explain the function of the exhaust gas recirculation system monitor.
Unregulated Monopolist
A monopolist that operates without governmental restrictions or regulations, freely setting prices and output levels without external interference.
Market Efficiency
Market efficiency refers to the extent to which market prices fully reflect all available information, leading to an optimal allocation of resources.
Ideal Market
A theoretical or perfect market condition where there are many buyers and sellers, no barriers to entry, and complete access to information.
Rent-Seeking
Actions by individuals and groups designed to restructure public policy in a manner that will either directly or indirectly redistribute more income to themselves or the projects they promote.
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