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Price Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good.
Marginal Revenue
The additional income generated from selling one more unit of a good or service.
Target Market
The target market is a specific group of consumers at which a company aims its products and services, identified by demographic, geographic, or psychographic characteristics.
Price Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.
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