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A tiny gun made of a strong but very light material fires a bullet more massive than the gun itself. For such a weapon
Inelastic Demand
A market situation where the demand for a product does not significantly change in response to price changes.
Inelastic Supply
A scenario in which the amount of a product or service provided is not significantly affected by variations in its price.
Luxury Tax
A tax imposed on expensive goods which are considered non-essential, aimed at discouraging their purchase or generating government revenue from luxury items.
Elastic Demand
A condition in which the quantity demanded of a good or service greatly changes in response to changes in its price.
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