Examlex
Lack of goal incongruence is a problem in decentralized organizations.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to buy.
Perfectly Elastic
A situation in economic theory where the quantity demanded or supplied responds infinitely to changes in price.
Perfectly Inelastic
A situation in which the demand for a good or service does not change in response to changes in price.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with higher elasticity indicating greater responsiveness.
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