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Elastic Portion
The segment of a demand curve where a change in price leads to a more than proportional change in the quantity demanded, indicating high price sensitivity.
Linear Demand
A type of demand where there is a constant relationship between the quantity demanded and price, represented by a straight line on a graph.
Price Inelastic
A situation in which the demand for a good does not change significantly in response to a change in price, indicating that consumers are less sensitive to price changes.
Linear
A term used to describe something that forms a straight line or a process that proceeds in steps of equal increments.
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