Examlex
Select the answer that correctly adds the suffix to each word below. pair + ed
Price Effect
The impact on the quantity demanded of a good or service resulting from a change in its price, holding all other factors constant.
Quantity Effect
The change in quantity demanded or supplied of a good or service due to a change in its price.
Price-elastic Demand
A situation where the quantity demanded of a good or service significantly changes in response to changes in its price.
Total Revenue
Total revenue is the total amount of money received by a company from sales of its goods or services before any expenses are subtracted.
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