Examlex
Factor the trinomial square and use the square root method to solve the equation.
Price Elasticity
A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.
Supply
The total quantity of a product or service that is available for purchase at a given price and time.
Elastic Supply
A situation where the quantity supplied of a good or service changes significantly when its price changes.
Normal Good
A good that has a positive income elasticity, so that as consumer income rises, demand for the good rises, too.
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