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Gender-based price discrimination is the practice of offering identical or similar services and products to men and women at different prices when the cost of producing the products and services is the same. [52] In the United States, gender-based price discrimination has been a source of debate. [53]
An alphanumeric brand name is a brand name composed only of letters and numbers (alphanumericals).Examples include 7 Up, Saks Fifth Avenue, Audi A4, Canon A75. [1] [2] They may serve as abbreviations (e.g. 3M, formerly known as the Minnesota Mining and Manufacturing Company), indicate model extensions (iPhone 3G, iPhone 4, etc.), symbolize physical product attributes (the V-shaped V8 engine ...
Only if the two products satisfy the three conditions, will they be classified as close substitutes according to economic theory. The opposite of a substitute good is a complementary good, these are goods that are dependent on another. An example of complementary goods are cereal and milk. An example of substitute goods are tea and coffee.
Examples include items like: sand, gravel, and aggregate used in construction. [16] With the advent of the Internet, price, service and support are often the only contact points with the customer. Identical products shipped across state lines with no tax have no other differentiators.
There are a number of different studies on the price disparities between personal care products and services that are marketed towards females and males. For example, the New York City Department of Consumer and Worker Protection (DCA) conducted a study of prices of goods in New York City across five industries, including personal care products ...
Setting identical prices above unit cost leads to a destabilizing incentive for each firm to undercut the other, aiming to capture the entire market and significantly boost profits. This lack of equilibrium arises from the firms competing in a market with substitute goods, where consumers favor the cheaper product due to identical preferences.
For a very simple example, it could be argued that although a BMW and a Ford are both motor cars, and although a Budweiser and a Heineken are both beers, they are really all different products. Various indexes of IIT have been created, including the Grubel–Lloyd index, the Balassa index, the Aquino index, the Bergstrand index and the Glesjer ...
Fungibility is different from liquidity.A good is said to be liquid if it can be easily exchanged for money or another good. A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time, place, etc.