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Let A = {1, 2, 3, 4}. The following relation R is an equivalence relation on A:
R = {(1, 1), (1, 3), (1, 4), (2, 2), (3, 1), (3, 3), (3, 4), (4, 1), (4, 3), (4, 4)}.
(a) Draw the directed graph of R.
(b) Find the distinct equivalence classes of R.
Elastic Demand
A situation where the demand for a good or service significantly changes in response to changes in price.
Income Elastic
Describes a good or service for which demand changes significantly when consumer incomes change, indicating a strong connection between income level and purchasing behavior.
Income Inelastic
Referring to goods or services whose demand does not significantly change as people's income levels change.
Price of Sugar
The cost at which sugar is sold in a market, influenced by factors such as supply, demand, production costs, and market conditions.
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