If the elasticity is greater than 1, is demand elastic or inelastic? If the elasticity equals 0,

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If the elasticity is greater than 1, is demand elastic or inelastic? If the elasticity equals 0, is demand perfectly elastic or perfectly inelastic?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 06:48 AM

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If the elasticity is greater than 1, is demand elastic or inelastic? If the elasticity equals 0,

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An elasticity greater than one means that demand is elastic Whe...View the full answer

Principles of economics

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