Where on the diagram is the cervical area? 
Definitions:
Demand Is Elastic
A condition where the quantity demanded of a good or service is significantly changed due to a change in its price. High elasticity indicates a sensitive reaction to price changes.
Total Revenue
The total amount of money received by a company for its goods or services before any expenses are subtracted.
Total Revenue
The total income generated by a firm from selling its goods or services.
Price Falls
A situation where the market price of a good or service decreases.
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