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What is coaching?
Cannibalizing
In business, the reduction in sales of a product due to the introduction of a similar product by the same company.
Elastic Demand
A situation where the demand for a product or service significantly changes in response to a change in price, indicating consumers' sensitivity to price changes.
Inelastic Demand
A situation where the demand for a product or service remains relatively unchanged despite changes in its price.
Marginal Cost
The rise in aggregate expenditure resulting from the production of one more unit of a good or service.
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