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Total Quality Management

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Total quality management


Definitions:

Price-Elasticity Coefficient

A calculation that assesses how a product's demand level shifts when its price varies.

Total Revenue

The total amount of money received by a company from sales of its products or services before any expenses are subtracted.

Inelastic

Describes a situation where the demand or supply of a good or service is relatively unresponsive to changes in price.

Total Revenue

The total amount of money generated by selling goods or services before any expenses are subtracted.

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