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When an Organization Is Too Small to Do Their Own

question 48

Multiple Choice

When an organization is too small to do their own validation study, under which one of the following circumstances would they be able to rely on a validation study done in a different organization?


Definitions:

More Elastic

Describes a greater sensitivity of demand or supply to changes in price or other economic factors.

Perfectly Inelastic

A market situation where the quantity demanded does not change as the price changes.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing to buy at each price point.

Perfectly Elastic

Describes a situation in economics where a small change in price leads to an infinite change in quantity demanded or supplied.

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