Examlex
Select the meaning of the underlined word in the sentence.
To make sure the invasive gastrointestinal surgery went well, the medical staff waited for the patient to defecate normally before discharging him from the hospital.
Cartel
An agreement among competing firms to control prices or production in a market, often to maximize profits by minimizing competition.
Dominant Strategy
In game theory, a strategy that is best for a player regardless of what strategies other players choose.
Economic Profit
Economic Profit is the difference between a firm's total revenue and its total costs, including both explicit and implicit costs, serving as a measure of a firm's financial performance beyond basic accounting profit.
Oligopoly Industry
An oligopoly industry is characterized by a small number of firms that have significant market power, leading to limited competition and the potential for collusion.
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