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Shane has researched stem cells for almost two years and has made a unique contribution to the healthcare sector with his innovation related to the treatment of congenital deformities. He needs to acquire a legal protection for his work, for which he is willing to disclose the technical details associated with his creation to the issuing authority. Which of the following will be granted to Shane in this scenario?
Elastic Demand
A situation where the quantity demanded of a good or service changes significantly in response to a change in price.
Total Revenue
The total amount of money a firm receives by selling goods or services.
Price Elasticity
A rating of the degree of demand fluctuation for an item as a consequence of variations in its price.
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