Price elasticity of demand with an absolute value of 2.5 would indicate
Question 10 options:
perfectly inelastic demand
relatively inelastic demand
demand of unitary elasticity
relatively elastic demand
perfectly elastic demand
For example, in the article published on CBC News “Ontario’s minimum wage raise a ‘small business killer'”, Nasser (2017) states, “The CanadianPrice elasticity of demand with an absolute value of 2.5 would indicate Question 10 options:
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