A firm can sell as much as it wants at a constant price. Demand is thus relatively elastic. perfectly inelastic and absolute price elasticity will equal zero. perfectly elastic and and absolute price elasticty will be very large. O relatively inelastic.

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06-12-2022
Business

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A firm can sell as much as it wants at a constant price. Demand is thus relatively elastic. perfectly inelastic and absolute price elasticity will equal zero. perfectly elastic and and absolute price elasticty will be very large. O relatively inelastic.

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Qwcold Qwcold · Answer 1 · 2022-12-12T12:39:04-05:00

A firm can sell as much as it wants at a constant price. Demand is thus relatively perfectly elastic and absolute price elasticity will be very large.

A firm is a for-profit business, usually formed as a partnership that provides professional services, such as legal or accounting services. The theory of the firm posits that firms exist to maximize profits. Not to be confused with a firm, a company is a business that sells goods or services for profit and includes all business structures and trades.

A business firm has one or more locations which all have the same ownership and report under the same EIN.

Learn more about firms here:

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