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A child throws a tantrum and their parents place the child in the corner for 5 min.As a result the tantrum behavior decreases.This is called ______.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in its price.
Quantity Sold
The total number of units of a product or service that have been purchased in a given period.
Price Elasticity
A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.
Demand Curve
A visual chart that illustrates how the quantity of a product or service desired by buyers varies with its price.
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