price-elasticity+of+wages

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• Price discrimination — or price differentiation[1] exists when sales of identical goods or services are transacted at different prices from the same provider.[2] In a theoretical market with perfect information, perfect substitutes, and no transaction costs or… …   Wikipedia

• elasticity of substitution — elasˌticity of substiˈtution noun [uncountable] ECONOMICS the degree to which one input can be replaced by another. For example, in producing goods, if the cost of wages increases and the cost of machinery and capital used to pay for it stays the …   Financial and business terms

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• productivity — pro·duc·tiv·i·ty (prō dŭk tĭvʹĭ tē, prŏd ək ) n. 1. The quality of being productive. 2. Economics. The rate at which goods or services are produced especially output per unit of labor. 3. Ecology. The rate at which radiant energy is used by… …   Universalium