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Find the exact value.
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Products or services that can be used in place of one another, providing consumers with choices in the marketplace.
Elastic
Describes a situation in which the quantity demanded or supplied changes significantly in response to a change in price.
Demand
The desire of consumers, backed by the ability and readiness to purchase, for specific goods or services at a given time.
Downward-Sloping
A graphical representation indicating a decrease or decline in value or quantity when plotted against another variable, often used in economics to describe demand curves.
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