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What would be the absolute value of the elasticity if demand is inelastic? A. greater than 1 B. equal to 0 C. equal to 1 D. less than 1

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2.5P: (Determinants of Price Elasticity) Would the price elasticity of demand for electricity be more...

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What would be the absolute value of the elasticity if demand is inelastic?

A. greater than 1
B. equal to 0
C. equal to 1
D. less than 1

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