Inflation is generally the result of total spending growing faster than total production

In a competitive market where the elasticity of the market demand curve is -1.5, the number of firms is 20, and an individual firm faces a residual demand curve with an elasticity of -68. What is the elasticity of the supply curve?

A) 0.5 B) 1.2 C) 2 D) Cannot be determined.

A matrix form of organization is equivalent to a U-form which is found in the service industry

Indicate whether the statement is true or false