Examlex
A nominal scale is always dichotomous.
Short Run
The length of time it takes all fixed costs to become variable costs.
Long Run
The long run is a period in economics wherein all inputs can be adjusted, and there are no fixed costs, allowing full operational flexibility.
Price Discrimination
A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider.
Good Or Service
Any tangible product (good) or intangible offering (service) that can be sold or provided in a market to satisfy the demand of a customer.
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