What is the correct answer?


Demand is elastic when the coefficient of elasticity is:

A. greater than zero

B. less than one

C. greater than one

D. less than one

Correct Answer :

C. greater than one

Related Questions

Perfect competition assumes: The point where the supply and demand curves intersect on a graph determines: We can find total utility by: Total profits are maximized at the point where: A vertical supply curve parallel to the price axis implies that the elasticity… The demand curve in monopolistic competition (also in kinked demand curve… The difference between average cost and average revenue is: The marshallian indirect utility function in the form of equation is: If the commodity is normal then fall in price will result in: Necessary condition for consumer equilibrium is: The main contribution of Malthus is in the field of: A firm under perfect competition has: In long run, a firm can change: The external economies of scale experienced by a firm include the: When total product falls: The firms in non-cooperative games: In a socialist (communist) economy the invisible hand: The act of producing the output from more than one plant is concerned… In economic term water is a: When price increases and with it the total outlay on a commodity also… The fundamental choices that a society must make about the use of its… In the range of excess capacity, the average costs are: Average cost curve contains in it: The number of sellers in oligopoly are: In Nash Equilibrium: Which one of the following is also known as Plant Curves: Capital and Development Planning is the work of: In general, most of the production functions measure: If the price of product A decreases and in the result the demand for product… The price consumption curve (PCC) for commodity X is the locus of points…