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Lisa is afraid of contracting an STD. Therefore, when having sex for the first time with her new partner, Bradley, she took several steps to protect herself. Unfortunately, she placed herself at risk when she
Equilibrium Quantity
(1) The quantity at which the intentions of buyers and sellers in a particular market match at a particular price such that the quantity demanded and the quantity supplied are equal; (2) the profit-maximizing output of a firm.
Price Elasticity
An indicator of consumer sensitivity to price fluctuations, represented by the extent to which the demand for a product adjusts in response to variations in its price.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price level during a specified time period.
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