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Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with elasticity greater than one indicating a high responsiveness.
Sales
The total number of goods or services sold within a specific time period.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price level.
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