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From Longman Business Dictionaryelastic demandeˈlastic deˌmandECONOMICS when a change in the price of something leads to a larger change in the amount of it that is sold or that could be sold if it was availableMargins on goods in relatively elastic demand should be lower than those on relatively inelastic demand. → demand
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May 08, 2025

paintbrush
noun ˈpeɪntbrʌʃ
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