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Julia Battaglia
on Nov 17, 2024

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If demand is perfectly elastic, the demand curve is horizontal, and the price elasticity of demand equals 1.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied responds infinitely at a particular price level.

  • Differentiate among perfectly elastic, perfectly inelastic, and unit elastic demand.
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Adasyn ClarksonNov 23, 2024
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