If the price elasticity of demand is less than 1, then consumer demand is
A) unrelated to the elasticity of demand.
B) inelastic.
C) elastic.
D) unitary elastic.
B
Economics
You might also like to view...
The air travel market, which is dominated by a few large firms, is an example of
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
Economics
If countries have similar factors of production and similar productivities, most of their trade is likely to be intraindustry
Indicate whether the statement is true or false
Economics