A Demand Is Said to Be Inelastic When The

question 145

Multiple Choice

A demand is said to be inelastic when the:

• A) demand curve and the supply curve do not intersect.
• B) total cost and total revenue are equal at all levels of demand.
• C) elasticity of demand is less than 1.
• D) elasticity of demand is greater than 1.

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Definitions:

Equation

A mathematical statement that asserts the equality of two expressions, symbolized by the use of an equals sign.

Solve

To find the solution to a problem or the answer to a question, especially in mathematics.

Solution

A solution in mathematics refers to the value or set of values that satisfy an equation, inequality, or system of equations.

Equation

A mathematical statement that asserts the equality of two expressions, typically containing one or more variables.