What is perfectly inelastic demand? What is relatively elastic demand?

Apr 26, 2024 ... I've been thinking about programming a Grumpy Economist bot. Training an AI on the corpus of my blog, opeds, teaching, and academic writing ... This course is to give broad insight into the different facets of transportation systems, while providing a solid introduction to transportation demand and ... If the price of chocolate bars were $1 per bar, I would likely buy fewer bars—perhaps only one. The behavior I just described is called the law of demand by ... Jul 13, 2022 ... If demand exceeds supply, prices will rise. The law of supply and demand is based on two other economic laws: the law of supply and the law of ... Jun 16, 2023 ... In economics, supply and demand curves govern the allocation of resources and the determination of prices in free markets. Jun 21, 2022 ... In this Economic Letter, I quantify and track the impact of supply- and demand-related factors on personal consumption expenditures (PCE) ... Jan 24, 2025 ... The surge is expected to continue, signaling a shift toward a more electrified economy, with significant implications for economic competitiveness and energy ... Aug 7, 2024 ... Because economics is vital to our everyday lives, it should be no surprise that its job outlook is more bull than bear. The demand is expected ... Mar 15, 2025 ... Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers ... Synonyms for DEMAND: request, requirement, wish, requisition, desire, claim, ultimatum, need; Antonyms of DEMAND: surplus, extra, luxury, comfort, ...