Examlex
The heme portion of hemoglobin contains iron that binds reversibly with oxygen. In addition to oxygen and carbon dioxide transport, hemoglobin functions in blood pressure regulation by ferrying nitric oxide throughout the body.
Elasticity Value
A measure in economics indicating how the quantity demanded or supplied of a good responds to changes in price or income.
Inelastic Demand
A situation in which the quantity demanded of a good or service changes by a relatively small amount in response to a change in its price.
Price Elasticity
An indicator of the extent to which the demand for a product is affected by variations in its cost.
Midpoint Formula
A method for calculating the price elasticity of demand or supply by averaging the starting and ending prices and quantities to estimate the percentage change.
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