Examlex
Total return equals
Income Response
The change in consumers' buying behavior resulting from a change in their income.
Price Elasticity
A measure of how much the demand for a product or service changes in response to a change in its price, indicating its sensitivity or responsiveness.
Arc Elasticity
A measure of a variable's sensitivity or responsiveness to changes in another variable, calculated over a specific range or 'arc'.
Price of Oranges
The cost at which oranges are sold or bought in the market.
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