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More Elastic
A term describing demand that is highly responsive to changes in price.
Quantity Demanded
The specific amount of a good or service consumers are willing to buy at a given price during a specific period.
Elasticity Coefficient
A numerical measure of the responsiveness of the quantity demanded or supplied of a good to a change in one of its determinants, like price.
Same Elasticity
A condition where two or more products have identical responsiveness in quantity demanded or supplied when there is a change in price.
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