Answered: . If the elasticity is greater than…

. If the elasticity is greater than one, is demand elasticor inelastic? If the elasticity equals zero, is demandperfectly elastic or perfectly inelastic?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 3QR

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. If the elasticity is greater than one, is demand elastic
or inelastic? If the elasticity equals zero, is demand
perfectly elastic or perfectly inelastic?

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