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1 Dec 2021
Problem 27
Page 130
Section: CRITICAL THINKING QUESTIONS
Chapter 5: Elasticity
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1 Dec 2021
Introduction
Infinite elasticity
Infinite elasticity, also known as perfect elasticity, is a term that describes extreme conditions in which either the quantity supplied (Qs) or the quantity requested (Qd) varies by an infinite amount in response to a price change. Infinite elasticity products have widely available inputs and are simple to manufacture.
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