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From reading the chapter on power and politics, what political tactics for increasing power (if any) did you glean that you would be willing to use?
Quantity Effect
Refers to the change in consumer behavior resulting from a change in the price of a product, where the quantity demanded increases as the price decreases and vice versa.
Total Revenue
The total amount of money received by a company for goods or services sold, before any expenses are subtracted.
Marginal Cost
The additional cost incurred from the production of one additional unit of a good or service.
Marginal Revenue
The extra revenue generated by the sale of an additional unit of a good or service.
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