If the absolute value of elasticity of demand for chocolate is 0.64 then the demand for chocolate is considered: a. elastic b. inelastic c. unit elastic d. yummy elastic

Economics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 7CQ
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If the absolute value of elasticity of demand for chocolate is 0.64 then the demand for chocolate is considered:
a. elastic
b. inelastic
c. unit elastic
d. yummy elastic
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