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Most informational reports have one thing in common: a neutral or receptive audience.
Elastic Supply
A situation where the quantity supplied changes significantly in response to changes in price.
Elastic Demand
A situation where the demand for a product or service significantly changes in response to a change in price.
Inelastic Supply
A situation where the quantity supplied of a good is not significantly affected by a change in price.
Elastic Demand
A market condition where the demand for a product is sensitive to price changes, meaning that a small change in price results in a large change in the quantity demanded.
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