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Ashante is having surgery for a blocked coronary artery. The physician is inserting a catheter with a tiny balloon to open the blocked vessel. What is this procedure called, and what else might the physician do to keep the artery open in the long term?
Shortage/Surplus
A condition in a market where the quantity demanded is greater or less than the quantity supplied at the current price.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with all other things being equal.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product or service, typically set below the market equilibrium price.
Shortage/Surplus
A market condition where the quantity of a good supplied is not equal to the quantity demanded, with a shortage being a deficit and a surplus being an excess.
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