Examlex
The second stage of the writing process involves adapting the message to the audience and composing the first draft.
Four-firm Concentration Ratio
A metric that shows the total market share controlled by the four largest firms within an industry.
Pure Competition
A market structure characterized by a large number of small firms, similar products, and free entry and exit, leading to perfect competition.
Oligopoly
A market structure dominated by a small number of large firms, leading to limited competition and often strategic behavior among firms.
Oligopoly
A market structure in which a few firms dominate, and each one can significantly affect prices and other market factors.
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