Examlex
The following structure is best represented as
X-Inefficiency
The difference between efficient behavior of businesses theoretically assumed or envisaged and their observed behavior in reality due to a lack of competitive pressure.
Competitive Firms
Businesses operating in a market where they must compete with others for the same customers, without having significant control over market prices.
Monopolistic Firms
Companies that have the majority of market share within their industry, allowing them to affect pricing and market conditions.
Absent
Not present or missing in a particular place or situation.
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