TRUE OR FALSE *if the coefficient of elasticity is greater that zero and less than one, then the supply and demand curve is inelastic *if the coefficient of elasticity is infinity, then there is asperfectly elastice demand and supplied *There is perfectly elastic demand and supply curve for a good if price is constant and quantity varies. *If the product has less close substitutes, the elasticity demand and supplied is inelastic.

TRUE OR FALSE if the coefficient of elasticity is greater that zero and less than one, then the supply and demand curve is inelastic if the coefficient of elasticity is infinity, then there is asperfectly elastice demand and supplied There is perfectly elastic demand and supply curve for a good if price is constant and quantity varies. If the product has less close substitutes, the elasticity demand and supplied is inelastic.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 19SQ: What is the price elasticity of demand for a vertical demand curve? a. Perfectly inelastic b....

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