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COEFFICIENT OF ELASTICITY: A numerical measure of the relative response of one variable (A) to changes in another variable (B). The most common applications for the coefficient of elasticity are price elasticity of demand and price elasticity of supply. Two other notable applications are income elasticity of demand and cross elasticity of demand.

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FREE RESOURCE

A resource that can be used to produce consumer-satisfying goods and services without imposing an opportunity cost on society by preventing the production or consumption of other consumer-satisfying goods or services. Production using free resources often results in free goods.

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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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