Examlex
Which shifts a macro production possibilities frontier inward?
Perfect Price Discrimination
A pricing strategy where a seller charges the maximum possible price for each unit consumed that a buyer is willing to pay, capturing the entire consumer surplus.
Marginal Revenue
is the additional revenue that a company gains from selling one more unit of a good or service.
Total Revenue
The aggregate income a company receives from its selling activities, calculated by multiplying the price of goods by the number of units sold.
Willingness to Pay
Willingness to pay is the highest price a consumer is prepared to spend on a good or service, reflecting the perceived value or utility.
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