Examlex
Which phylum of vascular, seed-bearing plants has only about 70 living species in three genera, including Welwitschia and Ephedra?
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change.
Quantity Demanded
Quantity Demanded is the total amount of a good or service that consumers are willing and able to purchase at a given price, over a specified time period.
Total Revenue
The complete amount of income generated by the sale of goods and services before any expenses are deducted.
Unit Elastic
A situation in economics where a percentage change in price causes an equal percentage change in quantity demanded or supplied.
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