Examlex
Which of the following is generally not a purpose of interest groups?
Equilibrium Quantity
(1) The quantity at which the intentions of buyers and sellers in a particular market match at a particular price such that the quantity demanded and the quantity supplied are equal; (2) the profit-maximizing output of a firm.
Price Elasticity
An indicator of consumer sensitivity to price fluctuations, represented by the extent to which the demand for a product adjusts in response to variations in its price.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price level during a specified time period.
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