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____ planning is the process by which managers identify alternative courses of action that the organization might follow if various conditions arise.
Price Discrimination
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like willingness to pay, market conditions, or customer attributes.
Deadweight Loss
Deadweight loss occurs when an economy's total welfare is not maximized, resulting from inefficiencies such as taxes or subsidies that distort market equilibrium.
Pure-monopoly Market
A market structure where a single firm has the exclusive control over the supply of a product or service, with no close substitutes available, allowing for price setting.
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