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What will be the value of pay after the following statements are executed?
int hours = 45;
Double pay, payRate = 10.00;
Pay = hours <= 40 ? hours * payRate :
40 * payRate + (hours - 40) *payRate * 1.5;
Price Discrimination
A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider to different consumers.
Single Price
A market condition where all units of a particular good or service are sold at the same price to all buyers.
Price Discrimination
The strategy of selling the same product to different customers at different prices based on the willingness to pay.
Consumer Surplus
The disparity between the amount consumers propose to pay for a good or service and the amount they finally pay.
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