Examlex
What are glia cells? What functions do they serve?
Natural Monopoly
A market condition where a single firm can supply a good or service to an entire market at a lower cost than two or more firms, often due to high fixed costs or unique resources.
Competitive Industries
Sectors of the economy characterized by a large number of firms competing fiercely with one another to sell similar products or services.
Monopoly Power
The ability of a single company or entity to control and dominate an industry or market, limiting competition and potentially manipulating prices.
Perfectly-Elastic
Describes a situation where the quantity demanded or supplied responds infinitely to changes in price.
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