Examlex
Explain why a firm can earn more profit by price discrimination than from setting a uniform price.
Market Equilibrium
The state in which market supply equals market demand, and prices have no tendency to change, assuming all other factors remain constant.
Excess Supply
A situation in which the quantity of a good or service provided exceeds the quantity demanded at a given price.
Market Equilibrium
A state where the supply of a product matches its demand, resulting in stable prices.
Quantity Demanded
The aggregate quantity of a product or service that buyers are prepared to buy at a given price.
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