Examlex
The price elasticity of supply is higher when
Total Revenue
The total amount of money a firm receives by selling goods or services, calculated as the quantity sold multiplied by the price.
Sellers
Individuals or entities that offer goods or services for sale to consumers or other businesses.
Total Revenue
The total amount of money a firm receives from the sale of its goods or services, calculated as the quantity sold multiplied by the price per unit.
Buyers
Individuals or organizations that purchase goods or services for personal use, resale, or production.
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