Refer to the graphs above. Which one shows a perfectly elastic demand?
Definitions:
Compound Interest
The interest computed on the principal and any interest earned that has not been paid or withdrawn.
Principal
The original sum of money borrowed in a loan, or the amount of the loan outstanding at any given time, excluding any interest.
Compound Interest
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
Principal
The original sum of money borrowed in a loan, or the initial amount of investment, excluding any interest or dividends.
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