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Quantity Demanded
The specific amount of a product that consumers are willing to buy at a given price, assuming all other factors are held constant.
Price Elastic
A measure of how much the quantity demanded of a good responds to a change in the price of that good. It indicates the sensitivity of consumers to price changes.
Total Revenue
The total income received by a firm from the sale of its products or services before any expenses are deducted.
Total Revenue
The overall revenue a business earns from sales of goods or provision of services throughout a given timeframe.
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