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COMPETITION AMONG THE FEW: A market with a small number of sellers (or buyers), such that each seller (or buyer) has some degree of market control. Many think of this type of competition when the term competition arises (the other type is competition among the many). This sort of competition leads to intense rivalry where each participant achieves their objective only by beating the others. I call this track-meet competition. In a track race among a handful of competitors, like a 100 meter sprint, the winner is the fastest of THIS GROUP.
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OTHER PRICES, SUPPLY DETERMINANT The prices of other goods that influence the decision to sell a particular good, which are assumed constant when a supply curve is constructed. Other prices can be for goods that are either substitutes-in-production or complements-in-production. This is one of five supply determinants that shift the supply curve when they change. The other four are resource prices, production technology, sellers' expectations, and number of sellers.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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SOFFEX
Swiss Options and Financial Futures Exchange
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