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When new food products are being analyzed for nutritional content,the food will be subjected to hydrolysis in the lab.The end products are analyzed to determine things such as fat and sugar content.Suppose a lab is analyzing a new product that claims to be fat free.After the hydrolysis of the product is complete,they find glucose,glycerol,hydrocarbons,and amino acids.Is this product free of fat? Justify your answer.
Price-Inelastic
A scenario where the demand for a good or service is relatively unchanged when the price varies.
Total Revenues
The total sum of money received by a company for goods sold or services provided during a certain period.
Grains
Refers to small, hard seeds, especially the seeds of plants such as wheat, corn, oats, barley that are used for food.
Price-Elastic
describes a market condition where the demand for a product changes significantly in response to a change in its price.
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