Examlex
Why are microbial doubling times in nature typically longer than those obtained in the laboratory?
Perfectly Inelastic
Describes a situation in which the quantity demanded or supplied does not change in response to a change in price.
Relatively Inelastic
Relatively inelastic refers to a situation where the demand for a good or service changes little when its price changes; the percentage change in demand is smaller than the percentage change in price.
Perfectly Elastic
This term describes a situation in market economics where the quantity demanded or supplied responds infinitely to changes in price.
Relatively Elastic
Describes a situation where the quantity demanded or supplied changes significantly in response to a change in price.
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