Examlex
The constant appearance of new strains of influenza virus is an example of __________.
Inelastic
Describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.
Elastic
Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.
Coefficient
A numerical or constant factor in an equation that multiplies the variable, indicating the degree or level of some effect.
Price Elasticity of Supply
The measure of how the quantity supplied of a good changes in response to a change in its price.
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