Examlex
When the price elasticity of demand is ________, demand for the good is elastic.
Proportions
The relationship between parts and a whole in terms of size, quantity, or degree.
Factor 2
A component or element that contributes to a particular result or situation.
Profit
The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Marginal Product
Marginal product is the additional output resulting from the use of one more unit of a variable input, holding other inputs constant.
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