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The Semilunar Valves Open When the

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The semilunar valves open when the


Definitions:

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and insurance premiums.

Small

Referring to something of limited size, amount, or scale when compared to others of the same category.

Sensitivity

The quality of being easily affected by outside forces or influences, often used in discussing market sensitivity to price changes or consumer sensitivity to environmental issues.

Price Elasticity

An economic concept that describes the degree to which the demand for a product or service varies with its price.

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