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Inelastic Portion
Part of the demand curve where the quantity demanded changes minimally in response to price changes.
Marginal Revenue
The additional income gained from selling one more unit of a product or service.
Inelastic Portion
A segment of the demand curve where consumers are relatively unresponsive to price changes, indicating a demand elasticity of less than one.
Marginal Revenue
The additional income earned from selling one more unit of a product or service.
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