Discuss Why in Logistics the Focus Is on the Customer

question 98

Essay

Discuss why in logistics the focus is on the customer.

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Definitions:

Marginal Revenue

Marginal revenue is the additional revenue that a firm gains from selling one more unit of a good or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Price

The cost in money to purchase a particular good or service.

Income Elasticity

A measure of how the quantity demanded of a good responds to a change in consumers' income.