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Paying a salary does not necessarily mean a job is exempt.
Monopolies
A market structure characterized by a single seller who has exclusive control over a product or service, with no close substitutes.
Product Differentiation
The practice of highlighting the unique features of a product or service to increase its appeal to a targeted market segment.
Price Wars
A competitive situation in which retailers repeatedly cut prices in order to undercut each other, often to the detriment of profit margins.
Tacit Agreements
Unspoken, unwritten mutual understandings or arrangements between parties.
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