Cryptocurrency Q&A
What is an example of a perfectly elastic good?
What is an example of a perfectly elastic good?
CosmicWave
Mon Jan 13 2025
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5 answers
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I'm trying to understand the concept of perfectly elastic goods. Could you provide me with an example of such a good? I want to know a product or service that would fit this economic term.
5 answers
HallyuHeroLegend
Tue Jan 14 2025
Luxury items such as jewels, gold, and high-end cars fall into this category.
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Elena
Tue Jan 14 2025
Having a price-elastic product entails certain challenges when it comes to revenue enhancement.
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SumoMighty
Tue Jan 14 2025
One cannot simply boost revenue by hiking prices for such products.
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CryptoProphet
Tue Jan 14 2025
Even a slight increase in price leads to a noticeable decline in the quantity demanded.
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Bianca
Tue Jan 14 2025
This phenomenon is evident in perfectly elastic products.
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