Examlex
Multiply: (-17) (-21)
Very Elastic
Very elastic describes demand that significantly changes in response to small changes in price, indicating high sensitivity of consumers.
Total Revenue
The sum of all payments received by a company for its products or services, not accounting for any expenses.
More Elastic
A term describing demand that is highly responsive to changes in price.
Quantity Demanded
The specific amount of a good or service consumers are willing to buy at a given price during a specific period.
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