Examlex
Why are regulating services considered instrumental values? Give examples.
Producer Surplus
The difference between what producers are willing to sell a good for and the actual price they receive, serving as an indicator of producer welfare.
Direct Price Discrimination
A pricing strategy where a business charges different prices to different customers for the same product or service, based on willingness to pay.
Arbitrage
A means to defeat a price discrimination scheme; it occurs when low-value individuals are able to resell their lower-priced goods to the higher-value group.
Low-value Group
A segment of the market or population perceived to have less purchasing power or economic importance.
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