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In what way might a ruler lose the "mandate of heaven"?
Elasticity of Demand
A gauge of the degree to which a change in price impacts the demanded amount of a good or service.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, typically expressed as a percentage.
Slightly Elastic
Slightly elastic refers to a situation where a small change in price leads to a relatively small change in the quantity demanded or supplied.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.
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