Unit 2.7 Key termsConsumer durables (or durable products) are products that can last for a long period of time and be used repeatedly, such as cars, computers, home furniture, and televisions.Perfectly price elastic means that a change in the price of the product causes there to be no demand for the product, i.e., there is an infinite impact on the quantity demanded.Perfectly price inelastic means that a change in the...