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In addition to giving emergency instruction to the caller, a dispatcher can also use prearrival instructions to: 1. comfort a distressed caller.
2) elicit additional information.
3) provide emotional support.
4) coordinate responders.
Marginal Cost
The rise in overall expenses resulting from the production of an extra unit of a product or service.
Elasticity of Demand
The degree to which the quantity demanded of a good or service varies with its price. Generally, a high elasticity indicates that demand is sensitive to price changes.
Inverse Demand Curve
Another term for the inverse demand function, it graphically represents how price depends on the quantity demanded, illustrating the relationship inverse to the demand curve.
Total Revenue
The total amount of money received by a company from selling goods or services before any expenses are deducted.
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