If elasticity of demand is greater than I and less than infinity, demand is said to be
a
elastic
b
perfectly inelastic
c
inelastic
d
perfectly elastic
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Articulture1234
2 years ago
If the absolute value of the price elasticity of demand is greater than 1, demand is termed price elastic. If it is equal to 1, demand is unit price elastic. And if it is less than 1, demand is price inelastic.
