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Price Increase
The rise in the cost of goods or services over time, which can be caused by factors such as inflation, increased production costs, or high demand.
Inelastic Demand
A market situation where the demand for a product does not significantly change with a change in price.
Total Expenditures
The combined amount of money spent by an individual, organization, or government over a specific period of time.
Inelastic Demand
A market situation where the demand for a product does not significantly change in response to changes in price, often applicable to necessities or products with few substitutes.
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