Examlex
What is the formula used to calculate income elasticity?
Cartels
Formal agreements among competing firms to control prices or output in a particular market, often to monopolize a market.
Auctions
A sales event where goods or services are sold to the highest bidder in a competitive process.
Bid-rigging
A form of fraud where competing parties conspire to determine the winner of a bidding process, undermining fairness.
Vickery Auctions
An auction format where the highest bidder wins but pays the second-highest bid, encouraging true value bidding.
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