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Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a ratio or percentage.
Tax
Mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.
Buyer
An individual or entity that purchases goods or services for personal use or consumption.
Tax
Tax is a compulsory financial charge levied by a government on individuals, corporations, or transactions to fund public expenditures.
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