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If the short run elasticity of demand for widgets is 0.7 and the long run elasticity of demand for widgets is 1.5, a decrease in price will ____ total revenue in the short run and ____ total revenue in the long run.
Canned Sales Presentation
A pre-scripted, standardized pitch used by salespersons to promote and sell a product or service to potential customers.
Formula Selling Presentation
A structured sales approach that follows a predetermined script or formula, aiming to cover all relevant points and overcome potential objections systematically.
Need-satisfaction Presentation
A sales approach that focuses on identifying and meeting the specific needs of a potential customer.
Stimulus-response Presentation
A technique in marketing and psychology where a stimulus is presented to elicit a specific response from the target audience.
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