Choose the best/correct answer. ___1. The elasticity coefficient is more than or greater than one. A. Elastic C. Unitary B. Inelastic D. Perfect Elastic ___2. The elasticity coefficient is less than one. A. Elastic C. Unitary B. Inelastic D. Perfect Elastic ___3. The elasticity coefficient is equal to one. A. Elastic C. Inelastic B. Unitary D. Perfect Elastic

Choose the best/correct answer. _1. The elasticity coefficient is more than or greater than one. A. Elastic C. Unitary B. Inelastic D. Perfect Elastic _2. The elasticity coefficient is less than one. A. Elastic C. Unitary B. Inelastic D. Perfect Elastic ___3. The elasticity coefficient is equal to one. A. Elastic C. Inelastic B. Unitary D. Perfect Elastic

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 6.1IP

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Question

Choose the best/correct answer.

___1. The elasticity coefficient is more than or greater than one.

A. Elastic C. Unitary

B. Inelastic D. Perfect Elastic

___2. The elasticity coefficient is less than one.

A. Elastic C. Unitary

B. Inelastic D. Perfect Elastic

___3. The elasticity coefficient is equal to one.

A. Elastic C. Inelastic

B. Unitary D. Perfect Elastic

___4. These are factors affecting the demand to increase and decrease, EXCEPT one.

A. Raw materials C. Consumer Tastes

B. Producer Preferences D. Price of related goods

___5. When an elasticity value is less than one, the demand is ____.

A. Unitary C. Inelastic

B. Elastic D. None of the Above

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