Examlex
In a society,which of the following categories is not seen as a social institution?
Duopolists
Two companies or entities that are the only competitors within a specific market or industry, often leading to strategic interactions in setting prices and outputs.
Demand for Pizza
An economic concept illustrating the quantity of pizza that consumers are willing and able to purchase at various prices, under a given set of conditions.
Colluding Firms
Companies that agree, often covertly, to work together, typically to set prices or market conditions, in order to reduce competition.
Cost Function
A mathematical expression that calculates the total cost of producing a certain number of goods or services.
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