Examlex
What did Apollo do to the satyr Marsyas after defeating him in a musical contest?
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change.
Producer Surplus
The gap between what sellers are prepared to take for a product or service and the actual amount they get.
Inelastic
This refers to a lack of sensitivity in the quantity demanded or supplied when the price changes.
Elastic
Describes a situation in economics where the demand or supply for a good or service significantly changes in response to a change in price.
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