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Extreme Cases:
These are situations where quantity demanded is either completely responsive or completely unresponsive to a change in the price of a commodity. The demand for a commodity is perfectly elastic when the absolute value of the price elasticity of demanf coefficient is equal to indinity (∞). This is where a change in price causes a proportionately infinitely larger change in quantity demanded. On the other hand, demand for a commodity is perfectly inelastic hen the price elasticity of demand coefficient is equal to zero. This means a change in price a commodity does not cause any change in quantity demanded.
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