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27 April, 22:33

The price elasticity of demand for widgets has a value of zero. of zero. nothing this demand curve would be best described as

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  1. 28 April, 01:56
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    Perfectly inelastic

    Price elasticity of demand is a measure which relates the change in the quantity of demand for a particular good, product or service, to changes in its price.

    A price elasticity of zero means that the demand is perfectly inelastic, indicating that the demand for the good, product, or service is totally independent of the price. Regardless of price changes, the demand for the consumers of said goods, products, or services, do not change.
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