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Explain what perfectly elastic demand is and what happens if the price is lowered or higher. Describe goods that would fall into this category. Explain
- Explain what perfectly elastic demand is and what happens if the price is lowered or higher. Describe goods that would fall into this category.
- Explain what perfectly elastic supply is and what happens if the price is lowered or higher. Describe goods that would fall into this category.
- Explain what perfectly inelastic supply is and what happens if the price is lowered or higher. Describe goods that would fall into this category.
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
5th edition
73375829, 978-0073375823
