Examlex
The Internet has reached a 50 percent penetration level within the U.S.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.
City Revenues
The income generated by a municipality from sources like taxes, fees, and grants which is used to fund public services.
Income Elasticity
A measure of how much the demand for a product changes in relation to a change in consumers' incomes.
Luxuries
Items or services that are considered non-essential but desirable, typically associated with high quality and a higher price.
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