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What are acts,statutes,and codes?
Kinked-demand Curve Model
An economic theory that suggests that prices in an oligopolistic market will remain stable because businesses will match price cuts but not price increases by competitors.
Oligopoly
A business environment where only a few enterprises have strong dominance in controlling market prices and the competitive landscape.
Marginal Cost
The monetary cost of fabricating one more unit of a product or service.
Marginal Revenue Curve
A graphical representation showing how marginal revenue varies with changes in quantity sold.
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