Examlex
In a study of what's been called the "hostile media phenomenon," Valone, Ross, and Lepper (1985) showed pro-Israeli and pro-Arab students network news coverage of the 1982 killing of civilian refugees in Lebanon. Results showed
Elastic
Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.
Inelastic
Describes a situation where the demand or supply for a good or service is unresponsive to changes in price.
Equilibrium Quantity
The amount of goods or services available that matches the amount desired by consumers at the price where supply and demand balance.
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