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Single-Price Monopolist
Refers to a monopolist who charges all consumers the same price for its product, rather than price discriminating among different consumer groups.
Price Discrimination
A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different consumers.
Price Setter
A business or entity that has the ability to influence or determine the price of goods or services in the market, often due to a lack of competition.
Elasticities Differ
The principle that different goods or services have varying sensitivities to changes in price or income.
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