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Perfectly Elastic Supply
Supply is said to be perfectly or infinitely elastic if the price is fixed at all levels of demand. The demand curve has been shown in the above diagram for the sake of clarity.
If the supply is perfectly elastic, the supply curve is a horizontal straight line and the elasticity of supply is equal to infinity.
When demand increases from quantity supplied increases but price stays fixed . Conversely, if demand falls, quantity supplied falls but price stays fixed.
This is the case of Government price control.
Consider a magnetic disk consisting of 16 heads and 400 cylinders. This disk is divided into four 100-cylinder zones with the cylinders in different zones containing 160, 200, 240,
prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.
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