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suiren suiren
wrote...
Posts: 496
5 years ago

Question 1.

When the absolute price elasticity of demand is greater than 1, demand is

• elastic.

• unit-elastic.

• inelastic.

• undetermined without more information.

Question 2.

When the absolute price elasticity of demand is less than 1, demand is

• elastic.

• unit-elastic.

• inelastic.

• undetermined without more information.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 34 times
1 Reply

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Replies
wrote...
5 years ago

Answer 1

elastic.

Answer 2

inelastic.
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