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First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person.
Second Degree Price Discrimination - The monopolist sells different units of the commodity at different prices. The distinction from the first case is that the people buying the same amount of the commodity pay the same price. Bulk discounts are an example of this practice.
Third Degree Price Discrimination - In this case different prices are charged to different people. But for each person each unit of the commodity costs the same. An example of this is the discounts given to students or senior citizens.
Consider the market for Kitty Litter. Assume this industry is purrfectly competitive and is presently in long-run equilibrium. Suppose people begin to prefer Dogs as pets and Cat
Indifference curve definition
When a worker is fired orlaid off, they experience a significant out-of-pocket cost. That cost of job loss relies on how much they were earning in their job, how long it takes them
Direct Marketing This is a marketing tool designed to elicit instant action from the customer through direct contact.
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law of diminishing marginal utility its assumptions, limitation, and its practical importance
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
As stock markets have crashed, and uncertainty has increased, consumers move their money to the safest currencies and countries in the world. Predict the effects of an increase in
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
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