Examlex
Light-water reactors generate about ____ of the world's nuclear-generated electricity.
Demand Function
A mathematical representation that describes the relationship between the quantity demanded of a good and its price, alongside possible other variables like income or prices of related goods.
Quasilinear Utility
A utility function where one good (usually money) enters linearly and therefore preferences for other goods are independent of the amount of money.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.
Income Elasticity
A measure of how much the demand for a good or service changes in response to changes in the consumer's income.
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