Examlex
Translate the term electrocauterization as literally as possible.
U.S. Cigarette Industry
The industry comprising companies operating within the United States that manufacture, distribute, and sell cigarettes and related products.
Oligopoly
A market structure characterized by a small number of firms that dominate the market, leading to limited competition and potentially higher prices for consumers.
Perfectly Competitive
describes a market structure where there are many buyers and sellers, products are homogeneous, and there are no barriers to entry or exit, leading to optimal distribution and resource allocation.
Contestable Markets
Markets in which entry and exit are easy enough to hold prices to a competitive level even if no entry actually occurs.
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