Examlex
An outcome is considered efficient if
Elastic
A characteristic of demand or supply where a change in price leads to a significant change in the quantity demanded or supplied.
Price Elasticity
A measure of the responsiveness of the quantity demanded or supplied of a product or service to a change in its price.
Bread
A staple food made primarily of flour, water, and yeast or another leavening agent, baked into a variety of forms and eaten worldwide.
Total Expenditures
The aggregate amount of spending on goods and services in an economy over a specified period.
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