Examlex
Evaluate exactly.
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Unit Elasticity
A situation where a change in the price of a product leads to a proportional change in the quantity demanded or supplied.
Demand
The quantity of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.
Unit Elasticity
A circumstance where the percentage variation in the quantity that is either demanded or supplied matches the percentage variation in its price.
Demand
The amount of a product or service that shoppers are ready and capable of buying at different price levels within a specific period.
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