Determine if the following is data, information or knowledge.
Definitions:
Antitrust Laws
Regulations designed to promote competition and prevent monopolies by limiting the power of large corporations.
Cartels
Groups of independent market participants who collude to control prices and output in an industry to maximize their collective profits.
Inelastic Demand
A situation where the demand for a good or service changes very little in response to changes in price.
Cournot Model
A model of oligopoly in which firms choose their output levels simultaneously, assuming the output of the rivals as given, to maximize their own profit.
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