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Instructions: Please write a thorough, well-organized essay to answer each question. In the half century before World War I, how did established elites struggle with the increasing political activity of the "lower classes," in particular factory workers?
Duopoly
A market structure dominated by two companies, resulting in limited competition.
Demand Curve
A chart depicting how the price of an item correlates with the amount of that item consumers are ready and capable of buying at different price levels.
Marginal Cost
The extra cost involved in producing one more unit of a product or service.
Cartel
An association of independent companies or organizations formed to control production, pricing, and marketing of goods to suppress competition.
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