Examlex
Other things being equal,the price elasticity of demand for a product will be lower:
Very Low
Refers to a quantitative or qualitative measure indicating a minimal level or degree of something.
About Average
A term used to describe a value or performance that is considered to be typical or within the middle range of a dataset or comparative group.
Central Tendency
A statistical measure to determine the single value that best represents the center of a data distribution, such as the mean, median, or mode.
Average
The central value of a set of numbers, calculated by dividing the sum of all the numbers by the count of numbers.
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