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When families go to the same resort year after year, and get to know and like both the resort employees and friends in the nearby town, they may be less sensitive to price increases at the resort due to the:
Personal Income Tax
A tax that individuals pay on their income to the government, often levied at progressive rates where the tax rate increases as income increases.
Income
The money received by an individual or business in exchange for providing a good or service or through investing capital.
Marginal Tax Rate
The amount of tax paid on an additional dollar of income, used in progressive tax systems to ensure higher incomes are taxed at higher rates.
Federal Income Tax
The United States federal government imposes a financial charge on the yearly revenues of individuals, corporations, trusts, and other legal entities.
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