Question

Identify the correct pairs of items from the following Column 1 and Column 2.

Column 1	Column 2
(1) Perfectly elastic demand	(a) Ed > 1
(2) Perfectly inelastic demand	(b) Ed = ∞
(3) Unitary elastic demand	(c) Ed = 0
(4) Relatively elastic demand	(d) Ed = 1

Answer 1

Column 1	Column 2
(1) Perfectly elastic demand	(b) Ed = ∞
(2) Perfectly inelastic demand	(c) Ed = 0
(3) Unitary elastic demand	(d) Ed = 1
(4) Relatively elastic demand	(a) Ed > 1