Examlex
Why do you think full-service gas stations have largely disappeared across the United States?
Perfectly Inelastic
A situation in demand where the quantity demanded does not change in response to a change in price; represented graphically as a completely vertical demand curve.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.
Supply Curve
A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.
Perfectly Inelastic Demand
A situation in which the demand for a product does not change as the price changes.
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