Examlex
Amtrak is considering two pricing strategies for its service. One is to price its train tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel, which illustrates _____ pricing. The second is to price its train tickets so that the further away the travel date, the greater the discount, which is best described as _____.
Marginal Cost
The increase in total cost that arises from an extra unit of production.
Total Revenues
Total Revenues refer to the total receipts from sales of goods or services by a company before any expenses are subtracted.
Fixed Costs
These stay the same no matter how much output changes.
Marginal Cost
The additional cost incurred in the production of one more unit of a good or service.
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