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Zach and Mac own an auto repair business which they operate as co-owners.Both take an active role in the management of the business,and each accepts unlimited liability.Zach and Mac operate as a __________.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.
Price Elasticity
A gauge for the reaction of demand for a product to variations in its cost.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price.
Price Elasticity
An indicator of the sensitivity in the quantity of a good demanded when its price fluctuates.
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