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Elastic
Describes a situation in economics where the demand or supply of a good or service significantly changes in response to a change in price.
Seller
An individual or entity that offers goods or services for sale.
Tax
is a compulsory financial charge or some other type of levy imposed on a taxpayer by a government organization in order to fund government spending and various public expenditures.
Elasticity
A measure of how much the quantity demanded or supplied of a good changes in response to a change in price or other economic variable.
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