Examlex
Which of the following is an example of optical storage media?
Price Elasticity of Demand
Price elasticity of demand measures how the quantity demanded of a good or service changes in response to a change in its price, indicating its sensitivity to price changes.
Unitary
A property of elasticity where a change in price causes a proportional change in the quantity demanded or supplied, with an elasticity coefficient of 1.
Incidence
Refers to the impact or burden of a tax, how it is distributed among various participants in the market.
Price Elasticity of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity supplied divided by the percentage change in price.
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