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ELASTICITY AND DEMAND SLOPE: The slope of a straight-line demand curve, one with a constant slope, has constantly change elasticity. No two points on a straight-line demand curve as the same elasticity. The point of intersection between the demand curve and the vertical, price axis is perfectly elastic (E = ∞). The intersection point between the demand curve and the horizontal, quantity axis is perfectly inelastic (E = 0). The exact middle, or midpoint, of the demand curve is unit elastic (E = 1). The segment between the midpoint and the price-axis intercept is relatively elastic (1 < E < ∞). The segment between the midpoint and the quantitY-axis intercept is relatively inelastic (0 < E < 1).
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for a thesaurus filled with typos.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The man who can drive himself further once the effort gets painful is the man who will win. " -- Roger Bannister, runner
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ANOVA
Analysis of Variance
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