Question
What term accurately describes supply when the measured elasticity of supply coefficient equals 0.8? I believe the answer would be inelastic - less than one
What term accurately describes supply when the measured elasticity of supply coefficient equals 0.8?
I believe the answer would be inelastic - less than one but greater than zero, I am having doubts on my gut feeling though and would like some insight! Thank you
a. inelastic
b. perfectly elastic
c. unit elastic
d. elastic
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Managing in a Global Economy Demystifying International Macroeconomics
Authors: John E. Marthinsen
2nd edition
128505542X, 978-1305176157, 1305176154, 978-1285055428
