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Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good.
Sales Volume
The number of units of a product or service sold in a specific period of time, indicative of consumer demand and business performance.
Demand Elastic
Refers to the degree to which demand for a good or service varies with its price. High elasticity indicates demand changes significantly with price changes, while low elasticity indicates little to no change.
Mark-Up Percentage
The percentage added to the cost price of goods to cover overhead and profit.
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