Figure: Elasticities of Supply and Demand 
Which combination of demand and supply curves results in the greatest tax burden to buyers?
Definitions:
Fast Food Market
The sector of the food service industry that specializes in food that can be prepared and served quickly.
Market Analysis
The examination of the size, trends, and competition in a particular market, intended to inform business decisions and strategy development.
Competitive Price-Searcher
A firm that must actively seek out the best price for its goods or services due to the presence of many competitors and informed buyers.
Maximizing Profit
The process or strategy of increasing the difference between total revenue and total costs to achieve the highest possible financial gain.
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