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What are the advantages of leasing over buying an automobile?
Demand Curves
Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers at those prices.
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity supplied over a given period.
Most Elastic
Refers to the responsiveness of the demand or supply of a good or service to changes in its price, with the most elastic being the most sensitive to price changes.
Supply Least Elastic
Characterizes goods or services for which supply does not significantly change in response to price changes, often due to limitations in production capacity or availability of resources.
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