If the Price Elasticity of Demand Is Very Elastic, Which

question 62

Multiple Choice

If the price elasticity of demand is very elastic, which of the following could be a possible value of the elasticity?

• A) 2
• B) 1
• C) 1/3
• D) 0

---

Definitions:

Government Imposes

Measures or regulations put in place by the government that can impact various aspects of economic and social life.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a specific price over a given period of time.

Quantity Demanded

The total amount of goods or services that consumers are willing to purchase at a given price level at a specific time.

Market Price

The current price at which an asset or service can be bought or sold, determined by supply and demand dynamics in the market.