If Cornel and Deanna Resolve Their Dispute by Having a Neutral

question 43

Multiple Choice

If Cornel and Deanna resolve their dispute by having a neutral third party render a binding decision, they will have used the method of​

• A) ​arbitration.
• B) ​conciliation.
• C) ​intervention.
• D) ​mediation.

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Definitions:

Direct Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, based explicitly on the customer's willingness to pay.

Indirect Price Discrimination

A pricing strategy where different prices are charged for the same product or service in different markets or segments, not directly by customer characteristics.

Decreasing Returns

Refers to a situation in which adding more of a production factor, such as labor or capital, results in progressively smaller increases in output.

Direct Price Discrimination

A pricing strategy where a seller adjusts prices for different customers based on observable personal characteristics or willingness to pay.