Elasticity (e) expressed by the formula 1 > e > 0 is
(A) Perfectly elastic
(B) Relatively elastic
(C) Perfectly inelastic
(D) Relatively inelastic
Correct Answer : Relatively inelastic
Question Asked : SSC Multi-Tasking Staff Exam 2013
Explanation : Elasticity (e) expressed by the formula 1 > e > 0 is relatively inelastic. Elasticity is responsiveness of one variable to a change in another, when other conditions are held constant.
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