In a perfectly elastic collision between two atoms, both momentum and kinetic energy are conserved at the initial and final states, although kinetic energy is temporarily transferred to the repulsive field during the collision. The total energy remains conserved throughout the process, with the repulsive field storing and later returning the kinetic energy to the atoms. This behavior mirrors that of a mass-spring oscillator, where energy is exchanged between kinetic and potential forms. Understanding these principles is essential in physics, particularly in analyzing atomic interactions. The discussion highlights the nuances of energy conservation in elastic collisions.