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Why Do Economists Measure Responsiveness of Demand to Price in Percentage

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Why do economists measure responsiveness of demand to price in percentage changes rather than in absolute changes?


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A psychiatric condition characterized by extreme mood swings from manic highs to depressive lows.

Lithium

A chemical element used as a medication primarily for bipolar disorder, helping to stabilize mood and reduce the extremes of mania and depression.

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A class of drugs often used as antidepressants that inhibit the reabsorption (reuptake) of serotonin in the brain, increasing the amount available.

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A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality and personal relationships into fantasy and delusion, and a sense of mental fragmentation.

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