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MATCHING Match the Person or Term with the with the Correct

question 107

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MATCHING
Match the person or term with the with the correct description.
-Pocahontas


Definitions:

Demand Price

The price of a given quantity at which consumers will demand that quantity.

Perfectly Inelastic

A market situation where the quantity demanded or supplied does not change in response to a change in price.

Deadweight Loss

The inefficiency caused in a market where all potential gains from trade are not realized due to factors like taxes or subsidies.

Per-Unit Tax

A tax imposed on a product on a per unit basis, raising the cost of production or sale for that product.

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