When Is Demand Perfectly Elastic? When Is Demand Perfectly Inelastic

question 224

Essay

When is demand perfectly elastic? When is demand perfectly inelastic? What are the values of the price elasticity of demand when demand is perfectly elastic or perfectly inelastic? What do perfectly elastic and perfectly inelastic demand curves look like?

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Definitions:

Community College

A type of educational institution that provides two-year associate degrees, certifications, and sometimes bachelor's degrees, often at a lower cost and with open enrollment.

Qualifying Education Expense

Expenses related to education, such as tuition and fees, that are necessary for enrollment or attendance at an eligible educational institution.

Student Loan Interest Deduction

A tax deduction available for the interest paid on student loans used for higher education, which can reduce taxable income.

Child Support Payment

Payments made by a noncustodial parent to assist with the financial support of their children.