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Demand Curve
A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.
Inelastic
Pertains to a scenario where the need for a product or service shows little reaction to fluctuations in its price.
Per Unit Price
The cost associated with a single unit of a product, illustrating the price at which one unit of the product can be purchased.
Elasticity Coefficient
A numerical measure of the responsiveness of the quantity demanded or supplied to a change in one of its determinants.
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