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What role did easy credit play in shaping the late twentieth-century U.S. economy?
Collude
To cooperate or conspire, especially in a secretive way, with others to deceive or cheat.
Herfindahl Indexes
A measure of market concentration used to determine the level of competition among firms within an industry, calculated by summing the squares of the market shares of each firm.
Concentration Ratio
A measure of the total market share that is controlled by a specified number of the largest firms within an industry, indicating the level of market competition.
Mutual Interdependence
A situation in which a change in price strategy (or in some other strategy) by one firm will affect the sales and profits of another firm (or other firms). Any firm that makes such a change can expect its rivals to react to the change.
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