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6 Determine the Most Efficient Method to Use When Solving a Quadratic Equation
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Taxable Income
The portion of an individual's or corporation's income that is subject to taxes according to federal, state, or local laws.
Tax Liability
The total amount of tax that an individual or business owes to the government.
Average Tax Rate
The proportion of total income that is paid as taxes, calculated by dividing the total amount of taxes paid by the total income.
Elastic Supply
A situation where the quantity supplied of a good responds significantly to changes in its price.
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