An Elasticity of 1 Would Be Considered

question 230

Multiple Choice

An elasticity of 1 would be considered

• A)perfectly elastic.
• B)elastic.
• C)unit elastic.
• D)inelastic.
• E)perfectly inelastic.

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Definitions:

Norway

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John Kenneth Galbraith

A Canadian-American economist, public official, and diplomat known for his works on consumer behavior, organizational theory, and public policy.

Mixed Economy

An economic system combining private and public enterprise, incorporating elements from both capitalism and socialism.

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