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An ERP Vendor Should Not Be Required to Explain Their

question 70

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An ERP vendor should not be required to explain their software release and upgrade strategies as this is a separate issue from the purchasing decision.


Definitions:

Total Revenue Test

A method used in economics to analyze the elasticity of demand by measuring changes in total revenue with variations in price.

Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, reflecting producers' willingness and ability to alter production.

Price Elasticity of Supply

An indicator of the sensitivity of the amount of a product provided to shifts in its price.

Market Period

A very short time frame in economics during which the supply of a good is fixed, meaning it cannot be increased or decreased in response to changes in price.

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