Elasticity (E) expressed by the term, 8 >E>1, is:

A. Perfectly elastic (infinitely elastic)

B. Relatively elastic (greater than one elasticity)

C. Unitary elastic

D. Relatively inelasticity (less than one elasticity)

Related Questions

  1. Entry of new firms into a competitive market will shift the supply curve of the:
  2. Engel curves shows that:
  3. With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
  4. In cournot model, firms make decisions separately regarding:
  5. The low cost price leader will charge:
  6. In short run:
  7. The relationship between AC and MC curves depend upon the behavior of:
  8. If X and Y are close substitutes, a fall in price of X will lead to:
  9. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  10. Scarcity is:
  11. Income effect operates through an increase
  12. An economic model describing the working of an economy consists of:
  13. The giffen paradox is an exception to law of:
  14. The fundamental choices that a society must make about the use of its resources include:
  15. The MRTS along an iso-quant goes on to:
  16. The proportionality rule in production requires that the ratios of MP and factor prices are:
  17. The Law of Diminishing Marginal Returns can be explained in terms of:
  18. The demand of the necessities is:
  19. In arriving at stable equilibrium in cournot model, if one firm decreases output the other firm will:
  20. An effective price ceiling usually results in:
  21. Variable cost includes the cost of:
  22. In price leadership, like leader, the follower firm may:
  23. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  24. On an indifference map higher indifference curves show:
  25. In the case of a giffen good, the income effect:
  26. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  27. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  28. Average Revenue means:
  29. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  30. The imaginary differentiation is attributed to difference in:

Please do not use chat terms. Example: avoid using "grt" instead of "great".