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Describe the two forms of non-union representation.
Price Elasticity
A measure capturing how demand for a product reacts to adjustments in price.
Linear Demand
A demand relationship shown through a straight line on a graph, indicating a constant relationship between price and quantity demanded.
Demand Schedule
A table that shows the quantity of a good or service that consumers are willing to buy at each price point.
Total Revenue
The total amount of money generated by a business from the sale of its goods or services before any costs or expenses are subtracted.
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