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When a good has an external cost, the market is said to
CRM Data
Information collected and managed by a Customer Relationship Management system, detailing interactions and relationships with customers.
Loyalty-Card Program
A customer loyalty program that rewards customers for their repeated business with benefits like discounts or free merchandise.
Iterative Process
A procedure in which repeated sequences or cycles of operations are carried out to refine results or solutions.
Predictive Modeling
The use of statistics and modeling techniques to predict future events or outcomes based on historical data.
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Q76: (Figure: Determining Surplus and Loss) In the
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