Assertion: monopoly's demand curve | /r/HasProperty | inelastic
Facets:
value: perfectly
type: DEGREE
Source sentences:
text: If a monopoly faces an inelastic demand curve, increasing the price is exactly what it can do.
text: However, Hicks analyzed the situation through indifference curves and noted that when the Marshallian demand curve is perfectly inelastic, the policy or economic situation that caused a distortion in relative prices has a substitution effect, i.e. is a deadweight loss.