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imperfect competition

(economics) the market situation that exists when one or more of the necessary conditions for perfect competition do not hold
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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any of several market situations in which individual producers or consumers still exercise some control over prices, e.g. monopoly, oligopoly, monopsony, or oligopsony's 21st Century Lexicon
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