A Belief Is a Descriptive Thought That a Person Holds

question 42

True/False

A belief is a descriptive thought that a person holds about something. Beliefs may be based on real knowledge, opinion, or faith and may or may not carry an emotional charge.

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Definitions:

Price Discriminate

The practice of selling the same product to different consumers at different prices based on their willingness to pay.

Cost-Justified

A determination that an expense, investment, or action is deemed reasonable or worthwhile based on its cost.

Robinson-Patman Act

is a United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.