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How does a base catalyst increase the rate of reaction?
Elastic Demand
A market condition where the demand for a product or service significantly changes in response to price changes.
Opportunity Cost
The cost of a missed opportunity; the value of the best alternative forgone.
Direct Price Discrimination
A pricing strategy where a seller charges different prices to different customers for the same product or service, based directly on the willingness to pay.
Arbitrage
The practice of buying and selling equivalent goods in different markets to take advantage of price differences for profit.
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