Economic Glossary | Perfectly Inelastic | Bankers Algo
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Economic Glossary

    Perfectly Inelastic

An elasticity alternative in which changes in price do NOT cause any change in quantity. In other words, quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price.


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Word of the day

Abnegation(n)

Meaning:

The act or an instance of abnegating, or denying oneself some rights, conveniences.

Synonyms: abandonment, abstinence, eschewal, forbearance, giving up

Antonyms: acquiescence, admittance, surrenders, yielding

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