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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

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter20: Elasticity: Demand And Supply

Section: Chapter Questions

Problem 11E: The price elasticity of the demand for gasoline is -0.02. The price elasticity of demand for...

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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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