Examlex
Which type of product modification is an aesthetic product change?
Highly Elastic
Describes a situation where the supply or demand for a product or service changes significantly in response to changes in price.
Per-Unit Subsidy
A government payment made for each unit of a product produced or sold, aimed at reducing the price or encouraging production.
Sales Tax
A tax imposed by government authorities on the sale of goods and services, typically calculated as a percentage of the purchase price.
Regressive Tax
A tax system where the tax rate decreases as the taxable amount increases, placing a heavier burden on lower-income individuals.
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