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Briefly describe the characteristics of a multicultural organization.
Deadweight Loss
Deadweight loss is a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market failures, taxes, or subsidies.
Excise Tax
A tax levied on specific goods or services at purchase such as alcohol, tobacco, and gasoline.
Elastic
Describes a situation in which the demand for a product or service significantly changes in response to a change in its price.
Deadweight Loss
A loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.
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