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An 8.0-m massless rod is loosely pinned to a frictionless pivot at 0, as shown in the figure. A very small 4.0-kg ball is attached to the other end of the rod. The ball is held at A, where the rod makes a 30° angle above the horizontal, and is released. The ball-rod assembly then swings freely with negligible friction in a vertical circle between A and B. The tension in the rod when the ball passes through the lowest point at D is closest to
Inelastic
Refers to a situation where the demand or supply of a good or service is relatively unresponsive to changes in price.
Price Effect
The impact on consumer demand and supply of goods caused by changes in the price of a product or service.
Quantity Effect
The impact on the total quantity bought or sold in a market as a result of changes in price.
Least Elastic
Refers to the good or service with the least sensitivity to changes in price, meaning the quantity demanded or supplied changes very little with price changes.
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