Examlex
Using "only if" compose a conditional in English from these two simple statements: "We took Grandfather's advice." And "We had a great time." Let the first one be "p" and the second by "q" and translate the conjunction into symbolic logic.
Supply Shifted
A change in the quantity of a good or service that suppliers are willing and able to sell at all possible prices, typically due to factors like changes in technology or costs.
Inverse Demand Curve
A graph that shows the relationship between the price of a good and the quantity demanded, plotted with price on the vertical axis and quantity on the horizontal axis.
Equilibrium Price
The rate at which the amount of a good or service sought by consumers is equal to the amount available, achieving a state of market equilibrium.
Substitutes
Products or services that can replace or act as alternatives to another, affecting consumer choices and market dynamics.
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