Examlex
Elaborative rehearsal is a more effective memory strategy than maintenance rehearsal because the information is processed
Linear Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded, characterized by a consistent negative slope.
Elastic Demand
A demand relationship in which the percentage change in quantity demanded is larger than the percentage change in price in absolute value (a demand elasticity with an absolute value greater than 1).
Long Run
The period in which all factors of production and costs can be fully adjusted, allowing for all inputs and operations to change.
Substitutes
Goods that can serve as replacements for one another; when the price of one increases, demand for the other increases.
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