Examlex
Identify the seven trends that are going to have the greatest impact on future business.
Cournot Equilibrium
A situation in an oligopoly market where each firm chooses its optimal output, assuming the outputs of its competitors are fixed.
Fixed Costs
Costs that do not vary with the level of output or sales, such as rent, salaries, or property taxes.
Downward-Sloping
Characteristic of a curve on a graph indicating a decrease in one variable as another variable increases, often seen in demand curves.
Cournot Duopolists
Firms in a duopoly market structure who decide on their output level assuming the output of the competitor is fixed, leading to a strategic interdependence.
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