Examlex
The variance of the sum of two investments will be equal to the sum of the variances of the two investments plus twice the covariance between the investments.
Total Revenue
The total income received by a firm from the sale of goods or services before any expenses are deducted.
Price Range
Price Range refers to the spread between the highest and lowest selling prices of a product or service in the market.
Unit Elastic
A situation in which a percentage change in price leads to an equivalent percentage change in quantity demanded, illustrating a direct one-to-one relationship.
Income Elasticity
An assessment of the variation in consumer demand for a product or service based on fluctuations in the consumer's income.
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