Demand is inelastic if the price elasticity of demand is
a. less than 1.
b. equal to 1.
c. greater than 1.
d. equal to 0.
a
Economics
You might also like to view...
A characteristic of an oligopoly is:
a. mutual interdependence in pricing decisions. b. independent pricing decisions. c. lack of control over prices. d. none of these.
Economics
If the quantity desired of something exceeds the amount available at zero price, that item is called
A) capital. B) an economic good. C) an intangible good. D) a bad.
Economics