Examlex
The symbol used in the text for the dummy market is _____ and the dummy takes up the slack between _____.
Price
The amount of money required to purchase a good, service, or asset. It acts as a signal to both buyers and sellers in a market.
Competitors
Competitors are companies or entities that operate in the same or a similar industry and vie for the same customers or market share.
Unfair Competition
Business practices that are deemed unethical or illegal, aiming to gain an unfair market advantage.
Oligopolist
An oligopolist is a participant within an oligopoly, which is a market structure characterized by a small number of firms dominating the industry, often leading to limited competition and higher prices for consumers.
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