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How is seniority defined under Title VII?
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting its sensitivity to price changes.
Price Increase
A rise in the cost of goods or services over time, which can affect purchasing power and economic dynamics.
Unit Elasticity
A situation in economics where the percentage change in quantity demanded or supplied is equal to the percentage change in price.
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