Finding everyone's willingness to pay is costly and difficult is one major hurdle monopolies face to engage in first-degree price discrimination.
Price discrimination is a promoting approach that prices clients different charges for the same product or service primarily based on what the seller thinks they could get the client to conform to. In pure charge discrimination, the seller costs every customer the maximum fee they will pay.
There are three types of price discrimination that you may stumble upon: first-degree, second degree and third degree. Those stages sometimes move by way of different names: customized pricing, product versioning or menu pricing, and group pricing, respectively.
Companies benefit from rate discrimination because it may entice purchasers to purchase large portions in their products or it may inspire in any other case bored stiff patron businesses to purchase products or services.
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The US was never completely isolated from the rest of the world. Trade made the US an active member of world affairs. It was during the period of the 1890s that the US foreign policy became influenced by imperialism. During that decade, the US became the most important industrial power in the world. That meant we had to find markets and areas to obtain raw materials. Business was also looking at other areas in the world as potential customers for our products. The US military, especially the Navy, was growing and expanding in other areas of the world where we had not had the ability to go in force before. The war with Spain (1898) and the presidency of T. Roosevelt also made the US a major economic, military, and imperialistic power.
Islam spread to most of the Iberian Peninsula, and as far India in the east.
Answer:
Both the British and the French claimed the Ohio River Valley as their territory. France considered it a part of New France and Britain considered it a part of Virginia.In addition to having a number of valuable resources there, such as very profitable fur-trading industry with the local Native American tribes, the land itself was also crucial to both sides if they wanted to expand their empires in North America,
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The income paid to the owner of land, labor or capital, in return for productive service is called Factor Payment.
Factor payment is basically the income that is received by the person/company, who supplies the factors of production to someone or to some company and in return gets paid for them.
Now factors of production are land, labor, capital, entrepreneurship etc.
Income generated through factor payments can also be categorized accordingly, like wages are being paid for the services of labor, rent is being paid for using the land or any immovable asset, interest is paid on capital, and profit is shared with entrepreneurship.
