An Elasticity That Would Be Considered Only Slightly Inelastic Would

question 13

Multiple Choice

An elasticity that would be considered only slightly inelastic would be

• A)0.1.
• B)0.9.
• C)1.0.
• D)1.1.

---

Definitions:

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price, indicating how changes in price affect consumption or production.

Slope

In mathematics, the measure of the steepness or angle of a line, defined as the ratio between the rise and the run between two points on the line.

Rectangular Hyperbola

A type of curve, defined as the graph of an equation of the form xy = c, where c is a constant, representing certain economic relationships.

Demand Curve

A graph depicting the relationship between the price of a good and the quantity demanded, typically showing a downward slope.