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Perfectly elastic demand is a demand where any price increase would cause the quantity demanded to fall to zero, and reducing the price of a good or service will not increase sales.
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What is meant by perfectly elastic demand?
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What is perfectly elastic demand?
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What is meant by perfectly inelastic demand?
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What is meant by inelastic demand? Compare it with perfectly inelastic demand.
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Distinguish between: 1. Perfectly elastic demand and perfectly inelastic demand 2. Relatively elastic demand and relatively inelastic demand
