The thing that can be deduced from Gus's elasticity of demand for cupcake is that the demand for cupcakes is perfectly elastic.
<h3>What is elasticity of demand?</h3>It should be noted that elasticity of demand simply means the responsiveness to demand when there's a change in price.
Gus's elasticity of demand for cupcake is that the demand for cupcakes is perfectly elastic. This is when the percentage change in quantity demanded is infinite due to the price change.
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