Examlex
In unsupervised learning:
Monopoly Power
The capacity of a firm to control market prices and exclude competition, often by being the sole provider of a product or service.
Barriers to Entry
Barriers that make it difficult for new entrants to join a market or business sector.
Average Total Cost Curve
Depicts the per-unit total cost of production (fixed cost plus variable cost) divided by the quantity of output produced.
Natural Monopoly
A market condition in which a single firm can supply a good or service to an entire market at a lower cost than could two or more firms.
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