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Price Discrimination
An approach to pricing in which a single provider sells almost identical goods or services at varying prices across different markets.
Consumer Surplus
The variance between what consumers are prepared and can afford to pay for a product or service and the actual amount they end up paying.
Marginal Cost
The additional cost incurred from producing one more unit of a product or service.
Two-part Tariff
A pricing strategy that involves a fixed fee in addition to a variable charge for each unit of the product consumed.
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