Examlex
Determine the molality of ions in a solution formed by dissolving 0.0257 moles of Li3PO4 in 735 grams of water.The density of the solution is 1.74 g/mL.
Total Revenue
The sum of money a company earns from selling its products or services, prior to deducting any costs.
Elastic
Describes a situation in which the quantity demanded or supplied of a good or service changes significantly as its price changes.
Inelastic
A characteristic of goods whereby a change in price leads to a relatively smaller change in the quantity demanded or supplied.
Total-revenue Test
A method used to determine the price elasticity of demand by observing changes in total revenue as a result of price alterations.
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