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TIE-IN SALE: A type of sale in which consumers can buy one good only if they purchase another good as well. For example, if your grocery store sells you a bag of tea with the condition that you buy a pound of sugar, that would be a tie-in sale. Because they allow a monopoly to increase its profit over what it could make by selling the two goods separately at constant prices, tie-in sales can be used to price discriminate. However, it is important to realize that there are other reasons for tie-in sales other than price discrimination, such as to increase efficiency. For example, when we buy a car, it comes as a package of several goods (tires, engine, etc), which would be very difficult (and inefficient) for consumers to assemble if they were bought separately.
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MARGINAL BENEFIT OF SEARCH The incremental benefit generated by additional search effort is the marginal benefit of search. Marginal benefit of search, also termed marginal search benefit, is comparable to marginal revenue of short-run production analysis and marginal utility of consumer demand theory. Marginal benefit of search decreases with an increase in search effort and is represented by the marginal benefit of search curve. This is one half of the efficient information search decision. The other is marginal cost of search.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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DOL
Department of Labor
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