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Oligopoly
A market structure characterized by a small number of firms whose decisions about pricing and output affect each other.
Market Price
The price at which a good or service is currently traded in the market, determined by supply and demand.
Few Firms
A market structure characterized by a small number of companies dominating the industry, often leading to oligopolistic competition.
Optimal Strategy
A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem, where the choice is made to maximize effectiveness or efficiency.
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