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Large log-likelihood values do not show
Robinson-Patman Act
Part of a group of laws collectively called the antitrust laws governing competition in the United States. Under the Robinson–Patman Act, it’s illegal to give or receive a price discount on a good sold to another business. This law does not cover services and sales to final consumers.
Price Discrimination
The strategy of selling the same product to different customers at different prices, often based on their willingness or ability to pay.
Elastic Demand
A scenario in which a notable fluctuation in the demand for a product or service occurs due to a variation in its price.
Marginal Cost
The extra expense associated with making an additional unit of a product or service.
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