If 0 < η < 1, then the demand is ______. - Mathematics and Statistics

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MCQ
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If 0 < η < 1, then the demand is ______.

Options

  • constant

  • inelastic

  • unitary elastic

  • elastic

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Solution

If 0 < η < 1, then the demand is inelastic.

Concept: Application of Derivatives to Economics
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Chapter 1.4: Applications of Derivatives - Q.1

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