Examlex
A vacuum pump is used to remove refrigerant from the system.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting its sensitivity.
Tax Revenue
The income that is gained by governments through taxation.
Inelastic Demand
A situation where the demand for a product does not significantly change with a change in its price.
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.
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