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Which of the following is a factor of production?
Concentration Ratio
An economic metric that assesses the total market share controlled by the top firms within an industry.
Rivals
Competitors in a market vying for the same customers or resources.
Reactions
Responses or adjustments made by individuals, markets, or materials to external changes or stimuli.
Oligopoly
An economic condition where few companies have significant control over an industry or product, limiting competition and potentially influencing prices and production.
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