Examlex
Find the x- and y-intercepts of the graph of the given equation, if they exist. Then graph the equation.
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Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain time period.
Perfectly Elastic
Describes a situation where the quantity demanded or supplied of a product responds infinitely to even the smallest change in price.
Inelastic
Refers to a situation where the demand or supply of a good or service is relatively unresponsive to changes in price.
Price Effect
The impact on consumer demand and supply of goods caused by changes in the price of a product or service.
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