How do we draw a supply and demand curve for a limited (inelastic) supply of a free service, where the demand has doubled in ten years? I know the supply is vertical, but not sure how to display the demand where the price is always zero?
The supply curve will be a vertical line as the same amount of services are... View the full answer
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We also know that supply is fixed, i.e. it is vertical. This means that the demand curve is not intersecting... View the full answer