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What is the difference between prejudice and discrimination? Is discrimination always preceded by prejudice?
Oligopolistic Industry
A market structure characterized by a small number of firms dominating the industry, leading to limited competition.
Collude
To cooperate or conspire, especially in a secretive way, with others to deceive or cheat.
Herfindahl Indexes
A measure of market concentration used to determine the level of competition among firms within an industry, calculated by summing the squares of the market shares of each firm.
Concentration Ratio
A measure of the total market share that is controlled by a specified number of the largest firms within an industry, indicating the level of market competition.
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