Examlex
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Price-Elasticity
A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.
Price-Inelastic
Describes a situation where the demand for a product does not change significantly with a change in the product's price.
Coefficient
A constant or numerical value that precedes and multiplies a variable within an algebraic expression.
Perfectly Inelastic
A situation where demand or supply does not change in response to changes in price.
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