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Since 1960,most Western cultures have changed with remarkable speed.The LEAST likely explanation for these variations involves changes in
Product Differentiation
A marketing strategy that businesses use to distinguish their products from those of competitors.
Tacit Collusion
A situation where businesses indirectly coordinate actions without explicit agreement, often leading to market prices above competitive levels.
Few Firms
A market situation typically characterized by an oligopoly, where a small number of companies possess the majority of market share.
Tacit Collusion
An unwritten, unspoken understanding among competitors to set prices or production levels to avoid direct competition.
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