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2 For the following questions, select the key term that best matches with the definition provided. - A horizontal summation of individual demand curves for
2 For the following questions, select the key term that best matches with the definition provided. - A horizontal summation of individual demand curves for a product - The percentage change in quantity demanded due to a one percent change in price, ceteris paribus - Two different goods (or resources) between which a choice is made to satisfy human wants (or to product a product) - The substitution of one good for another as their relative prices change A. Substitution effect B. Price elasticity of demand C. Substitutes D. Market demand curve
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