Examlex
The quantity of a good that consumers are willing and able to buy is best explained by _____
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (income, expenditure, or asset), represented as a percentage.
Proportional
Characterized by or corresponding in size, degree, or intensity according to a fixed ratio or relationship.
Price Elasticity
A measure indicating how much the quantity demanded of a good responds to a change in its price, often illustrating the sensitivity of demand to price changes.
Relatively Elastic
Characterizes a situation where the quantity demanded of a good or service changes significantly due to a small change in price.
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