Examlex
What occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person?
Total Revenue
The total amount of money a firm receives from the sale of its goods or services, calculated as the product of price and quantity sold.
Inelastic
A characteristic of goods or services for which demand does not significantly change with a change in price.
Total Revenue
The total amount of money generated from the sale of goods or services by a company before any costs or expenses are deducted.
Inelastic
Describing demand that is relatively unresponsive to price changes, meaning the quantity demanded changes very little when the price changes.
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