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According to D'Arcy Masius Benton & Bowles's psychographic study in Russia, "Russian Souls" theoretically prefer Russian products but look down on mass-produced goods of inferior quality.
Equilibrium Quantity
The quantity of goods or services supplied and demanded at the equilibrium price, where demand and supply are equal.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product in demand.
Total Revenue
The total amount of money received by a company for goods sold or services provided during a certain period.
Relatively Inelastic
A situation where a change in the price of a good or service causes a comparatively smaller change in the quantity demanded or supplied.
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