Examlex
P values are identified by what terms on computer output by statisticians?
Price Floor
A government or group-imposed limit that prevents prices of goods or services from falling below a certain level.
Shortage/Surplus
A condition in a market where the quantity demanded is greater or less than the quantity supplied at the current price.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with all other things being equal.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product or service, typically set below the market equilibrium price.
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