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Who has a higher bargaining power if the demand for the good being transacted is price elastic?
Price Elasticity
A calculation that shows the impact of price changes on the quantity of a good that is demanded.
Price Increase
A rise in the cost of goods or services, affecting the purchasing power of consumers.
Widgets
A generic term often used to refer to any hypothetical manufactured good or product.
Sales Decrease
A situation in which the quantity of products sold by a company or in a market declines.
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