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Under aerobic conditions yeast cells convert pyruvate to ethanol and carbon dioxide.
Determinant of Supply
Factors that influence the quantity of a good or service that producers are willing and able to sell at a given price, such as production technology, input prices, and expectations of future prices.
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.
Excise Tax
A tax levied on specific goods, services, or transactions, often specific types of products such as gasoline, cigarettes, or alcohol.
Equilibrium Price
The cost at which the amount of a good consumers want to buy matches the amount producers are willing to sell, achieving a state of equilibrium in the market.
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