Examlex
How has the Tea Party Caucus changed in recent congressional sessions?
Unnatural Monopoly
A market structure where a single company dominates due to artificial barriers, such as regulations or patents, rather than market forces.
Perfectly Elastic
A situation in economic theory where a small change in price leads to an infinite change in quantity demanded or supplied.
Marginal Revenue
The additional income that is gained from selling one more unit of a product or service.
Monopoly's Product
A unique product or service without close substitutes, offered by a monopolist who faces no competition.
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