Answered: if the price elasticity of a commodity…

if the price elasticity of a commodity is 1.5. Then it's elasticity is :- (A) Inelastic (B) unit elastic (C) elastic (D) none of the above

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2.5P: (Determinants of Price Elasticity) Would the price elasticity of demand for electricity be more...

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Question

if the price elasticity of a commodity is 1.5. Then it's elasticity is :-

(A) Inelastic

(B) unit elastic

(C) elastic

(D) none of the above

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