For a necessity good, the price elasticity of demand is:
a. close to zero
b. close to 1.
c. greater than 1.
d. close to infinity.
a
Economics
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When most shocks to the economy are external, it is generally better to have
A) a flexible rate system. B) a hard peg. C) a soft peg. D) a crawling peg.
Economics
The term marginal revenue product (MRP) refers to the change in output if an additional worker is employed
a. True b. False
Economics