Which of the following is true? O A. When & < -1, demand is considered inelastic. O B. When - 1 < & ≤0, demand is considered elastic. O C. When & = -1, demand is considered unitary elastic. O D. All of the above. E. None of the above.
Which of the following is true? O A. When & < -1, demand is considered inelastic. O B. When - 1 < & ≤0, demand is considered elastic. O C. When & = -1, demand is considered unitary elastic. O D. All of the above. E. None of the above.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Which of the following is true?
O A. When & < −1, demand is considered inelastic.
B.
When -1 < & ≤0, demand is considered elastic.
C.
When & = -1, demand is considered unitary elastic.
O D.
All of the above.
E.
None of the above.
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