Figure: Two Demand Curves 
In the figure, demand curve _____ is the least elastic demand curve, and the lost gains from trade because of a tax are greater with demand curve _____.
Definitions:
Monthly Demand
The sum amount of a product or service that purchasers are ready and can afford to buy over the course of a month.
Variable Manufacturing Overhead
The portion of manufacturing overhead costs that changes in proportion to the level of production activity.
Fixed Manufacturing Overhead
Costs related to the production that remain constant regardless of the level of manufacturing activity, such as building lease payments or salaries of permanent staff.
Book Value
The net value of a company's assets found on its balance sheet, calculated as total assets minus liabilities and intangible assets.
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