Examlex
A complete 3 × 2 factorial experiment is called balanced if:
Unit-elastic
A demand or supply whose price elasticity is equal to 1, indicating that the percentage change in quantity demanded or supplied is equal to the percentage change in price.
Price Elasticity
The degree to which the demand for a product reacts to variations in its price.
Insect Infestation
The presence and detrimental occupation by a large number of insects on plants, crops, or in homes, leading to potential damage or spread of disease.
Price Elasticity
An assessment of the change in demand for a merchandise following a change in its price.
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