Examlex
Economists call selling the same product at different prices to different customers:
Diminishing Returns
The principle where the increase in the quantity of input will, after a certain point, yield progressively smaller increases in output.
Costs Of Production
The total expenses incurred in the manufacturing of a product, including raw materials, labor, and overhead.
Input Prices
The costs or expenses incurred in acquiring the raw materials and services needed to produce a product.
Miles Per Gallon
A measure of fuel efficiency in vehicles, indicating how many miles a vehicle can travel on one gallon of fuel.
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