WHAT IS PERFECTLY INELASTIC DEMAND
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It is the quantity raised is not up to the product
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Perfectly elastic demand is also denoted as supply which explains about the economic growth and development about any particular product.
- It's related to rise or change in any particular product.
- This change in any particular product doesn't affects the quantity of product which is required for suppyling to the industries.
- If we talk about any life saving medicine so even if the prices get high still people would buy it for saving their life.
- Hence increment in production doesn't create hurdles in supply of the product under perfectly elastic demand.
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