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Lukas is physically small for his age and is much weaker and slower than his same-aged peers. He also struggles with learning disabilities in the classroom. Lukas also has small eyes and a thin upper lip, making him an easy target for classroom bullies. These physical and behavioral abnormalities are MOST likely the result of:
Demand
The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specified time frame.
Price Elastic
Price elasticity refers to the degree to which the quantity demanded of a good or service changes in response to a change in its price.
Availability of Substitutes
The presence of alternative products or services that can satisfy the same needs or wants as the original product.
Own Price Elasticity
Measures the responsiveness of the quantity demanded of a good to a change in its own price.
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