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Use Factorial Notation
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Price Controls
Restrictions on pricing for goods and services in a market, enforced by the government.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where the market clears.
Tax Per Unit
A fixed amount of tax applied to a product or service, based on the quantity sold, rather than the value.
Tax Incidence
The study of who ultimately pays for and bears the cost of taxation, whether it be consumers, producers, or others.
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