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What is conjunctivitis?
Economic Profit
Profits earned by a firm after accounting for both explicit costs and opportunity costs.
Cartel
A group of independent companies that collaborate to control prices and production in order to monopolize a market.
Oligopoly
A market structure dominated by a small number of large firms, offering similar or identical products, with significant barriers to entry for new competitors.
Joint Profits
The total earnings generated by two or more firms collaborating in a venture or partnership.
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