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Price Discrimination
The strategy of selling the same product to different customers at different prices based on their willingness to pay, not differences in production costs.
Fourth of July
A national holiday in the United States commemorating the adoption of the Declaration of Independence on July 4, 1776.
Newspaper Coupon
a voucher printed in newspapers that offers a discount on a particular product or service.
Price-Elastic
A scenario where the quantity demanded or supplied of a good is sensitive to changes in its price.
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