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How did Ming foreign policy shift after Zheng He's expedition?
Price Elasticity
Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Quantity Demanded
The full quantity of a good or service that consumers are inclined and financially capable of purchasing at a designated price.
Price Elasticity
An indicator for the degree to which the supply or demand level of a good adjusts following a change in its price.
Midpoint Method
A technique used in economics to measure the elasticity of demand or supply, which calculates the percentage change between two points by dividing the difference by the average of those points.
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