Examlex
Latitude and longitude would be best described as an example of:
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.
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