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What is the NVT?
Elasticity of Demand
A measure of how responsive the quantity demanded of a good or service is to a change in its price.
Total Revenue
The total income received by a firm from the sale of its goods or services before any costs or expenses are deducted.
Elasticities
Indicators that show the sensitivity of the demand or supply of a product to variations in its price, income levels, or other relevant elements.
Elasticity of Demand
A measure of how much the quantity demanded of a good or service changes in response to a change in its price.
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