If the Price Elasticity of Demand Is Greater Than 1

question 184

Multiple Choice

If the price elasticity of demand is greater than 1, then economists say that

• A) demand is inelastic.
• B) demand is unitary elastic.
• C) demand is elastic.
• D) price and quantity demanded are unrelated.

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The official currency of the United States, widely used as a standard unit of currency in international trade and finance.

U.S. Dollar

The official currency of the United States, widely used as a standard for international transactions.

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An international platform for trading national currencies with each other.

U.S. Dollar

The official currency of the United States of America, widely used as a global reserve currency.