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Not true. Even a perfectly inelastic (vertical) demand curve still intersects the supply curve at some price. In other words, even if I would pay infinite dol
by Chrisoaks 2y ago
Not true.
Even a perfectly inelastic (vertical) demand curve still intersects the supply curve at some price.
In other words, even if I would pay infinite dollars for a widget, I would still purchase from the cheapest supplier.