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Ruby and Myron have ended their relationship,and Ruby blames herself for the break-up because she views herself as unlikeable and unattractive.She sees herself as lacking in the type of personality and intelligence to keep a boyfriend for a long-term relationship.Ruby tells her friends that her whole life is ruined,and she should just leave the university and go home.Ruby's thinking best illustrates
Perfectly Inelastic
A situation in demand where the quantity demanded does not change regardless of the change in price.
Perfectly Elastic
This describes a situation where a small change in price leads to an infinite change in the quantity demanded or supplied.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.
Elastic Demand
A situation where the quantity demanded of a good or service changes significantly in response to a change in price.
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