Examlex
A change of transportation mode can affect a change in packaging and handling, inventory costs, warehousing time and cost, and delivery charges.
Second Class
A category of service or ticket in transportation or other services that is below the highest level in terms of amenities and cost.
Miles Traveled
The total distance covered or traveled, often used in contexts like transportation studies, expense calculations, or travel statistics.
Perfect Substitutes
are goods that can be completely exchanged for one another at a constant rate of substitution and possess identical levels of utility and functionality for consumers.
Substitution Effect
An alteration in consumer choice between two goods when the price of one good changes relative to the price of another, influencing the allocation of their budget.
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