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Contact [7]
4 years ago
14

"Total revenue equals the price multiplied by the quantity. The relative change price and quantity is given by the concept of __

______________."
Business
1 answer:
Flura [38]4 years ago
7 0

Answer:

Elasticity

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded.

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

I hope my answer helps you

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<span>Teamwork is a must necessary for any kind of business setup to grow. Salespeople have to build internal partnerships through teamwork by understanding the other team members and clarifying expectations. Fulfilling the commitments and focusing on little things too also help in achieving the goals. They must attend to the little things if they want to succeed.</span>
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3 years ago
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Dmitry_Shevchenko [17]

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Which of the following is an advantage of flexible manufacturing technologies? They have reduced the importance of technological
Georgia [21]

Answer:

They have increased the importance of production economies of scale.

Explanation:

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4 0
4 years ago
Many people in Rhenasia are spending less as there are only few good-paying jobs in the country. Many businesses in the country
scZoUnD [109]

Answer: Economy of the country.

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4 0
3 years ago
Steinway produces concert grand pianos, often using the custom materials and designs desired by a specific customer. The average
vovangra [49]

Answer:

Cost-Plus

Explanation:

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3 years ago
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