Examlex
_________________ crossdocking is the consolidating of shipments from LTL and small package industries to gain economies of scale.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price.
Income Elasticity
A measure of how much the demand for a product or service changes relative to a change in consumers' income.
Total Revenue
The total income a firm receives from the sale of its goods or services before any costs or expenses are subtracted.
Least Elastic
Refers to the degree of responsiveness or sensitivity of demand or supply to changes in prices, with the least elastic being the least responsive.
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