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While discussing scan tools: Technician A says scan tools have the capability to diagnose various computer systems on a vehicle. Technician B says scan testers have the capability to display data and DTCs and perform many other diagnostic functions. Who is correct?
Deadweight Loss
An inefficiency in the economy caused by the lack of or inability to attain equilibrium in the market for a particular good or service.
Inelastic
Describing a situation where the demand or supply for a product does not significantly change in response to a change in price.
Excise Tax
A tax levied on specific goods, services, or transactions, often with the aim of reducing their consumption.
Producer Surplus
The distinction between the acceptable selling price for producers of a good or service and the actual price achieved.
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