What is perfectly inelastic demand?

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BeingSkilled
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What is perfectly inelastic demand?
BeingSkilled
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An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same. Perfectly inelastic is the opposite of perfectly elastic.

Read more: http://www.businessdictionary.com/definition/perfectly-inelastic.html


An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same. Perfectly inelastic is the opposite of perfectly elastic.

Read more: http://www.businessdictionary.com/definition/perfectly-inelastic.html

An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same. Perfectly inelastic is the opposite of perfectly elastic.

Read more: http://www.businessdictionary.com/definition/perfectly-inelastic.html