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Few Firms
In markets characterized by few firms, also known as oligopolies, a small number of companies dominate the industry, leading to limited competition.
Prime Rate
The interest rate that banks charge their most creditworthy customers, often used as a benchmark in lending rates.
Covert Collusion
A secret agreement between firms to fix prices or divide the market to limit competition, which is illegal in many jurisdictions.
Oligopolist
A market participant in an oligopoly, a market structure with a small number of firms dominating the industry.
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