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A machinist with normal vision has a near point at 25 cm.The machinist wears eyeglasses in order to do close work.The power of the lenses is +1.75 diopters.With these eyeglasses,what is the near point of the machinist?
Perfectly Inelastic
A market situation where the quantity demanded or supplied does not change in response to a change in price.
Elasticity of Demand
An indicator of the responsiveness of the quantity of a product demanded to its price alterations.
Total Revenue
The total income a firm receives from the sale of its products, calculated as the price per unit times the number of units sold.
Inelastic
A demand is considered inelastic when it does not significantly change with the price of a good or service, indicating that consumers are relatively insensitive to price changes.
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