Examlex
A price fixed below the equilibrium price of a product will cause a shortage of that product.
Tax Revenue
Tax Revenue refers to the income that is gained by governments through taxation, which is then used to fund public services and governmental operations.
Excess Burden
The additional cost to society beyond taxes collected resulting from inefficiencies in market outcomes due to taxation or regulations.
Tax Revenue
Funds accumulated by governments as a result of taxation.
Inelastic
Describing demand that does not change significantly when the price of a good or service changes.
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