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PERFECT PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed first-degree price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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DURABLE GOODS, CONSUMPTION Personal consumption expenditures on tangible goods that tend to last for more than a year. Common examples are cars, furniture, and appliances. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are nondurable goods and services. Durable goods are about 12 percent of personal consumption expenditures and 8 percent of gross domestic product.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"The way to gain a good reputation is to endeavor to be what you desire to appear. " -- Socrates, philosopher
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LRMC
Long Run Marginal Cost
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