Examlex
When a product is new or relatively new and a trial purchase is the primary objective, a marketer will most often use
Price Fixing
An illegal agreement among competitors to set, raise, or lower prices to predetermined levels, thereby undermining free market competition.
Deadweight Loss
A loss in economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Price Ceiling
A government-imposed limit on how high the price of a product can be, intended to protect consumers from high prices.
Monopolist
A single seller in a market who controls the supply of a product or service, and thus, has significant power to set prices.
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