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Bohr atom: The energy of the ground state in the Bohr model of the hydrogen atom is -13.6 eV. The energy of the n = 2 state of hydrogen in this model is closest to
Demand Curve
A diagram that illustrates the connection between a product's cost and the amount of it consumers want to buy at various prices.
Substitution Effect
The change in the consumption pattern of goods or services due to a change in their relative prices, causing consumers to replace more expensive items with cheaper alternatives.
Income Effect
The change in the quantity demanded of a good resulting from a change in consumer income, holding prices constant.
Inelastic Demand
A situation where the demand for a product does not significantly change with a change in price.
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