Examlex
If Taco Bell determines that the demand for its food is elastic, Taco Bell should raise its price to increase its total revenue.
Congress
The national legislative body of the United States, consisting of the Senate and the House of Representatives.
Individual Choices
The decisions made by individuals based on preferences, income, and prices that determine what goods and services they acquire.
Economic Capability
The ability of an individual, company, or country to produce goods or services efficiently, using available resources and technology.
Equilibrium
A state where market supply and demand balance each other, and, as a result, prices become stable.
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