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SECOND-DEGREE PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the different prices for different quantities of a good. This also goes by the name block pricing. This is possible because the different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.

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Lesson 8: Market Shocks | Unit 4: Double Shifts Page: 17 of 20

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  • How the market equilibrium can be disrupted by simultaneous shifts in the demand and supply curves.
  • The four possible double shifts in the market: more demand and less supply, more demand and more supply, less demand and less supply, and less demand and more supply.
  • That an increase in demand and an increase in supply results in an increase in quantity and an indeterminant change in price.
  • That an increase in demand and a decrease in supply results in an increase in price and an indeterminant change in quantity.
  • That a decrease in demand and a decrease in supply results in a decrease in quantity and an indeterminant change in price.
  • That a decrease in demand and an increase in supply results in an decrease in price and an indeterminant change in quantity.


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SAVING-INVESTMENT MODEL

A variation of the Keynesian injections-leakages model that includes the two private sectors, the household sector and the business sector. This variation, more formally termed the two-sector injections-leakages model, captures the interaction between induced saving (and indirectly induced consumption expenditures) and autonomous investment expenditures. This model provides an alternative to the two-sector aggregate expenditures (Keynesian cross) analysis of the macroeconomy, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the saving line and the investment line. Two related variations are the three-sector injections-leakages model and the four-sector injections-leakages model.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for slightly overweight pizza delivery guys.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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