If demand is inelastic, The absolute value of price elasticity of demand is a) greater than the absolute value of the slope of the demand curve b) less than one c) one d) greater than one
If demand is inelastic, The absolute value of price elasticity of demand is a) greater than the absolute value of the slope of the demand curve b) less than one c) one d) greater than one
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 9SQ
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If
a) greater than the absolute value of the slope of the demand curve
b) less than one
c) one
d) greater than one
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