Examlex
After a shift in the aggregate demand curve,which variable adjusts to restore general equilibrium?
Unit Elastic
A situation in economic demand or supply where a change in price leads to an equal proportional change in the quantity demanded or supplied.
Price Elasticity
A metric that shows the responsiveness of the quantity of a product demanded when its price changes.
Quantity Demanded
The amount of a good or service that consumers are willing and able to purchase at a given price.
Price Elasticity
An indicator of how the amount of a product that is bought or provided reacts to variations in its cost.
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