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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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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