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Explain how causal ambiguity can provide a sustainable competitive advantage.Illustrate your comments with an example from a real business.
Four-Firm Concentration Ratio
A measure of market concentration that indicates the combined market share of the four largest firms in an industry.
Productive Efficiency
A situation where a good or service is produced at the lowest possible cost.
Allocative Efficiency
A state of the economy in which resources are allocated in a way that maximizes the total benefit to society.
Collusive Oligopoly
A market structure where a few firms dominating the market agree to set prices or output levels, reducing competition and maximizing collective profits.
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