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By 1890, approximately what fraction of the population lived in cities?
Board of Regents
An administrative body that governs institutions of higher education, overseeing budgetary matters, academic policies, and major appointments.
Elastic Demand
A situation in which the quantity demanded of a good or service is highly responsive to changes in its price.
Price Cut
A reduction in the selling price of goods or services, usually aimed at increasing demand or facing competition.
Elastic Demand
An instance where the demand for a product exhibits substantial sensitivity to adjustments in its pricing.
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