Briefly Explain What a Cluttering Phrase Is and Give Three

question 64

Essay

Briefly explain what a cluttering phrase is and give three examples of cluttering phrases and possible substitutions.

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Definitions:

Perfectly Elastic

A situation in economics where the quantity demanded or supplied responds infinitely to changes in price.

Demand Curve

A graphical representation showing the quantity of a good that consumers are willing and able to purchase at various prices.

Degree of Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Availability of Substitutes

The presence of alternative goods or services that consumers can use in place of another.