Examlex
Factors that limit the range of prices a firm may set are referred to as
Monopolistic
Describing a market structure where there is only one or a few sellers, each offering a unique product.
Industry Structure
The organization of and relationships between companies within a particular sector, characterized by aspects such as competition, product differentiation, and market size.
Oligopoly
A market structure characterized by a small number of firms whose decisions about pricing and output affect each other.
Market Price
The price at which a good or service is currently traded in the market, determined by supply and demand.
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