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In Domhoff's view, Congress is under the influence of the dominant class but not the formal control of it; however, it is effectively blocked by two of the three divisions of government.
Large Firm
A business entity characterized by a large scale of operations, potentially including extensive product lines, significant market share, or substantial workforce.
Profit Maximizing Price
The price at which a firm can generate the highest possible profit, determined by the intersection of the firm's supply curve and the market demand curve.
Profit Maximizing
The process of finding the level of output where a firm achieves the maximum possible profit.
Kinked Demand Curve Model
Oligopoly model in which each firm faces a demand curve kinked at the currently prevailing price: at higher prices demand is very elastic, whereas at lower prices it is inelastic.
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