So you can now understand what is a part per million. ppm in this context probably means parts per million. This is the concentration of a chemical or element in something like food or drink. for example 8 milligrams of mercury in 100 grams of fish would result in a mercury concentration of 0.8 ppm (parts per million)
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Price effect in quantitative term, is the changed in quantity demanded of a good due to changes in its price,ceteris paribus. The price effect, however, is a net effect of two â¦ sub-effects: Income effect and substutuion effect.