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Price Inelastic
Refers to a situation where the quantity demanded or supplied of a good or service changes by a smaller percentage than changes in price.
Alcohol Tax
A tax imposed on the sale of alcoholic beverages, often used as a means to discourage excessive drinking and to generate government revenue.
Revenue
The total amount of money generated by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.
Price Inelastic
Describes a situation where the demand for a product does not change significantly when its price changes.
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