Examlex
If demand is elastic, then total revenue would decrease if price were raised.
Advancement in Technology
describes improvements in technology that often lead to increased productivity, efficiency, and the creation of new products or processes.
Number of Producers
Refers to the total count or quantity of manufacturers or suppliers of a particular good or service in a market.
Input Prices
The cost of goods, services, and materials that are used to produce other goods or services.
Suppliers' Expectations
The anticipations or beliefs of suppliers about the future conditions of the market that can influence their decisions on production and pricing.
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