Examlex
Based on Web analytics,a hotel knows a customer often stays for a week and offers that person a discount for booking online.This is an example of:
Average Total Cost
The sum of fixed and variable production costs divided by the total amount of produced goods.
Long-run
A time period in which all factors of production, including capital, are variable, allowing full industry adjustment.
Price Discrimination
A pricing strategy where a seller charges different prices to different customers for the same product or service, based on factors other than the cost of production.
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