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What role did the election of 1866 play in shaping Reconstruction?
Market Power
The ability of a firm to influence or control the terms and conditions of the market to some degree.
Tacit Collusion
An implicit agreement among competitors to set prices or otherwise behave in a cooperative manner, often without explicit communication.
Market Share
The percentage of total sales in a market captured by a particular company, product, or brand.
Oligopoly
A market structure characterized by a small number of large firms that have significant control over market prices and high barriers to entry, leading to limited competition.
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