Examlex
Potential difficulties teachers are unprepared for include
Price Discrimination
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like location, age, or purchase quantity.
Sunk Cost
A cost that has already been incurred and cannot be recovered.
Intermediate Product
A product that is a result of a process but is also used as an input in the production of a final or finished product.
Differential Revenue
The amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
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