Examlex
Tae Min feels that it would be unfair to his team and his company to take a sick day to sleep in. He understands Fayol's principle of
Perfect Price Discrimination
A pricing strategy where a seller charges the maximum possible price for each unit consumed that the buyer is willing to pay, thus capturing the entire consumer surplus.
Total Profits
The entirety of earnings a company or individual makes after subtracting the total costs from the total revenues.
Two-part Tariff
A pricing strategy that includes a fixed fee plus a variable usage fee, commonly used in utility services or subscription-based services.
Marginal Cost
Refers to the cost associated with producing an additional unit of output, highlighting the concept of incremental expense in production processes.
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