Examlex
The ______ use(s) principles of gear reduction to give the driver mechanical advantage over the wheels, making it easier to steer them.
Oligopolist
A firm or business that is part of a market structure where a few companies dominate the industry, often leading to limited competition.
Kinked-Demand Model
A model in economic theory that suggests prices in an oligopoly market tend to become rigid or stable due to competitive reactions.
Marginal Revenue
The additional income generated from selling one more unit of a good or service.
Kinked-Demand Model
An economic model suggesting that prices in an oligopoly are stable because firms will match price decreases but not price increases due to a kink in the demand curve.
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