Register
If a demand for a product is inelastic, the value of the price elasticity of demand is: Group of answer choices zero. equal to one. greater than one. less than one. qiuzlet
194k views
23 votes
If a demand for a product is inelastic, the value of the price elasticity of demand is: Group of answer choices zero. equal to one. greater than one. less than one. qiuzlet

User Doughgle
by
4.9k points

1 Answer

4 votes

Answer:

less than one

Step-by-step explanation:

In the case when the demand of the product is inelastic that means the value of the price elastic of demand would be less than one

Therefore as per the given situation the last option is correct

And, the rest of the options are incorrect

So the same is relevant

User Montaldo
by
5.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.4m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
Link Copied!