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单词 perfect substitute
释义
perfect substitute

Economics
  • A good which is indistinguishable in use from another. When two goods are perfect substitutes, their prices (per comparable unit) must be the same if both are to be used: the elasticity of substitution between them is infinite, and any price difference will lead to all consumers choosing the cheaper. An indifference curve between them is a straight line. Goods may be perfect substitutes in some but not all uses.


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