Examlex
A unique feature of oligopolies,when compared with other industry types,is:
Expected Utility
A concept in economics and finance that represents the total utility that an entity expects to gain under uncertain conditions.
Insurance Premium
The sum of money required to be paid by a person or company for obtaining an insurance coverage.
Risk-Averse
A description of an individual or entity that prefers to avoid risk, choosing safer options over potentially higher-reward alternatives.
Marginal Utility
The extra pleasure or benefit a person gains from consuming an additional unit of a product or service.
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