Economics · Microeconomics
When an infinitesimally small reduction in price leads to an infinitely large increase in quantity demanded, the price elasticity of demand is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Relatively inelastic
- 2Unitary elastic
- 3Perfectly elastic (Infinitely elastic)✓
- 4Perfectly inelastic
Correct answer
Perfectly elastic (Infinitely elastic)
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