Examlex
For mutually exclusive projects,the IRR can be used to select the best project:
Elastic
Describes demand that is highly responsive to changes in price, where a small price change leads to a large change in quantity demanded.
Inelastic
Describes a scenario where the demand or supply of a good or service is not significantly changed when the price of that good or service changes.
Elasticity of Demand
The measure of how much the quantity demanded of a good responds to a change in the price of that good.
Quantities Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level.
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