Definitions
There is 1 meaning of the phrase
Perfectly Elastic Demand.
Perfectly Elastic Demand - as a noun
A market situation in which the demand for a good disappears if its price is rised, and conversely, if the price of a good decreases, the demand becomes infinite.
Example Sentences
"In a perfectly elastic demand scenario, any increase in price will result in a total loss of demand."
"The demand for potato chips is an example of a perfectly elastic demand where consumers can easily switch to other brands."
"In the case of a perfectly elastic demand, a decrease in price will lead to an infinite increase in quantity demanded."
"A perfectly elastic demand curve is represented by a horizontal line."
"In a perfectly elastic demand market, consumers are extremely responsive to changes in price."
