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Research by Warburton, and more recently by Miron and Zweibel on alcohol consumption during and after prohibition indicates that the demand for alcohol is price inelastic.
A drink that includes ethanol, a type of alcohol that serves as a stimulant and is generated by fermentation grains, fruit, or other forms of sugars, is known as an alcoholic drink. Drinking, or the drinking of alcoholic drinks, is a social practice that is important in many cultures. Regulations frequently apply to the production, marketing, and use of alcoholic beverages. Regulations may require the use of a health warning as well as the marking of the alcohol content% (as ABV or proof). While such activity is outright forbidden in some countries, alcohol is typically acceptable everywhere else. The worldwide alcoholic beverage market hit $1 trillion in 2018.
Learn more about alcohol here:
https://brainly.com/question/13009517
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