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Why do firms benefit from a price premium with loyal customers?
Fuel
A material that is used to produce energy, especially by combustion, to generate power or as a source of heat.
Fixed Costs
Fixed costs are business expenses that remain constant regardless of the level of goods or services produced, such as rent, salaries, and insurance.
Cakes
Commonly a sweet baked dessert, typically made from ingredients like flour, sugar, eggs, and butter or oil.
Wheat
A cereal grain that is a worldwide staple food, used for making products like bread, pasta, and pastry due to its gluten content.
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