A perfectly cometitive firm is likely to have its elasticity value a). be in the inelastic range b). be equal to one in absolute value c). be equal to infinity in absolute value d). be equal to zero

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section9.5: Multistage Decision Problems
Problem 19P
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A perfectly cometitive firm is likely to have its elasticity
value
a). be in the inelastic range
b). be equal to one in absolute value
c). be equal to infinity in absolute value
d). be equal to zero
Transcribed Image Text:A perfectly cometitive firm is likely to have its elasticity value a). be in the inelastic range b). be equal to one in absolute value c). be equal to infinity in absolute value d). be equal to zero
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