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Suppose you were to hear an economist defend the minimum wage on the grounds that she estimated that the demand for labor is nearly vertical, you would know her to be relying on the ____ argument.
Oligopoly
A market configuration where the market is dominated by a few firms, resulting in restricted competition.
Soft Drink
A non-alcoholic beverage typically containing carbonated water, a sweetener, and natural or artificial flavoring.
Automobile Industries
Industries involved in the design, development, manufacturing, marketing, and selling of motor vehicles.
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