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If Demand Is Elastic,will Sellers Consider Lowering Their Prices? Explain

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If demand is elastic,will sellers consider lowering their prices? Explain.


Definitions:

Heritability

A measure of how much of the variation in a trait among individuals within a population is due to genetic differences.

Extraversion

A personality trait characterized by high levels of sociability, talkativeness, and energetic behavior.

Arousal Preference

An individual's characteristic level of stimulation or excitement, influencing their engagement with the environment.

Voidable

Refers to a legal agreement or transaction that is valid and enforceable, but can be annulled or terminated by one or more of the parties involved due to certain defects or circumstances.

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