Examlex
Use the laws of exponents to simplify each expression using positive exponents only. Assume all variables represent nonzero real numbers.
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Substitutes
Substitutes are goods or services that can be used in place of each other, fulfilling the same needs or desires of the consumer.
Price Inelastic
A situation where the demand or supply for a product does not change significantly when its price changes.
Good X
A placeholder term used in economics to represent a specific product or commodity in theoretical discussions.
Midpoint Method
A technique used in economics to calculate the elasticity of demand or supply by using the midpoint between two points on a curve instead of relying on the initial or final point alone.
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