Term
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Definition
| Products are same or similiar; Easily Subsituted [Homo-SAME] |
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Term
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Definition
| Differentiated Product; Real or Perceived; Very Different [Color, Style, Quality] |
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Term
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Definition
| One of a Kind [Water/Utility Bills] |
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Term
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Definition
| Factors that Inhabit the entry or exit of firms into of out of an industry. [Geography or High Advertising Costs] |
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Term
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Definition
| A firm that accepts the market price determined by supply and demand |
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Term
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Definition
| Acction taken by an industry leader to raise the price |
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Term
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Definition
| Acction taken by an industry leader to raise the price |
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Term
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Definition
| A firm that has conrol over the price of the product it sells. [No Competition] |
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Term
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Definition
| Firms complete on the basis of factors other than price; style, qualitry, special. |
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Term
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Definition
| Bills and acts designed to monitor and regulate big business, prevent monopolies. |
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