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Lately you have been noticing more and more ads from clothing stores are popping up on your Facebook page,and when you log into your email there are unsolicited emails from clothing vendors as well.Thinking back,what most likely has changed on your computer to allow these thing to be happening?
Relatively Elastic
Describes a situation where a small change in price leads to a greater change in quantity demanded or supplied.
Inelastic
A description of a good's demand when consumers’ demand for it does not significantly change with a change in the good's price.
Total Revenue
The total income received by a firm from its sales of goods or services, calculated as the quantity sold times the price per unit.
Price Lowered
A decrease in the cost of a good or service to consumers.
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