Examlex
Which of the following is a set of unique features of a company and its products that are perceived by the people or companies the organization wishes to serve as significant and superior to those of the competition?
Quantity Effect
The change in quantity demanded or supplied as a result of changes in price.
Price Effect
The impact that a change in the price of a good or service has on its demand or supply.
Total Revenue
The total income generated by the sale of goods or services, calculated as the product of the price per unit and the number of units sold.
Price Elasticity
A measure of how much the quantity demanded of a good changes in response to a change in price.
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