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Describe hookah smoking and discuss whether it is safer than cigarette smoking.
Oligopolies
Market structures characterized by a small number of firms that have significant control over market prices and competition.
Tacit Collusion
An unspoken, informal agreement among competitors to limit competition, such as by fixing prices or dividing market territories, without explicit communication.
Price Effect
The impact that a change in the price of a good or service has on consumers' demand for that good or service.
Output
The quantity of goods or services produced in a given time period.
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