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All else the same, it is likely that firms with (1) excess capacity, (2) low variable costs, and (3) repeat
customers will extend credit more liberally than others. Why?
Consultant
A professional who provides expert advice in a particular area or industry.
Round Trip
A journey to a destination and back to the original starting point, usually referring to travel.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.
Total Revenue
The total receipts from sales of goods or services over a specific period before any expenses are deducted.
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