Examlex
Expedia used APIs to increase the distribution of travel products that it sells, relying on partners to plug into its technology and inventory.
Elastic
A characteristic of supply or demand that indicates a high responsiveness to changes in price.
Monopolistic Competitor
A firm operating in a market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and price setting.
Excess Capacity
A situation in which a company can produce more goods or services than currently demanded, due to underused resources.
Economic Profit
Profit calculated by subtracting both explicit and implicit costs from total revenues, indicating the efficiency beyond the breakeven point.
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