Write the word or phrase that best completes each statement or answers the question.
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Definitions:
Per-unit Tax
A tax that is levied on each unit of a product or service sold.
Buyers
Persons or organizations that buy products or services.
Sellers
Entities or individuals who make goods or services available for purchase by consumers or businesses.
Price Elastic
A measure of how much the quantity demanded of a good responds to a change in its price; high elasticity indicates a significant change in quantity with price changes.
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