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As a result of the action illustrated in the figure,
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.
Marginal Cost
The rise in overall expenses associated with the production of an extra unit of a good or service.
Price Discrimination
A strategy for setting prices where the same or very similar products or services are offered at different prices by the same seller in various markets.
Pricing Scheme
A strategy or method used by businesses to set prices for their products or services, often designed to optimize profits, market share, or customer satisfaction.
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