Examlex
Examine the image below of a gel produced by the electrophoresis of DNA. The smallest fragment on the gel is the one indicated by the star.
Quantity Demanded
The specific amount of a good or service that consumers are willing and able to buy at a particular price.
Percentage Change
A mathematical calculation that shows how much a quantity has increased or decreased as a proportion of its previous value, usually expressed as a percentage.
Income Elasticity
A measure of how much the demand for a product changes with a change in consumers' income.
Completely Inelastic
A situation in which the demand or supply for a good or service is totally unresponsive to price changes.
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