Examlex
What was a result of Stanley's explorations?
Price Effect
The impact on the quantity demanded of a good or service due to a change in its price.
Quantity Effect
The change in the total amount consumed or produced of a good or service resulting from a change in its market price.
Entrance Fee
A charge for admission, often paid at the entrance of a facility, event, or establishment.
Price Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in its price; it quantifies the sensitivity of demand relative to price changes.
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