SEPTEMBER 2025Foundation
8. Demand is said to be elastic, if:
A
(A) Elasticity is one (E p = 1)
B
(B) Elasticity is greater than one (E p > 1)
C
(C) Elasticity is less than one (E p < 1)
D
(D) Elasticity is zero (E p = 0)
8. Demand is said to be elastic, if:
(A) Elasticity is one (E p = 1)
(B) Elasticity is greater than one (E p > 1)
(C) Elasticity is less than one (E p < 1)
(D) Elasticity is zero (E p = 0)