Question

If I have two coefficient for elasticity that are less than <1 but another one I calculated is >1 does that mean my product i.e fuel is inelastic still or not??

Answer 1

Answer on Question #67193 – Economics - Microeconomics

Question

In a perfectly competitive market, in long-run equilibrium, the typical firm operates at ____

Answer options:

a. minimum point of its LRATC curve

b. minimum point of its ATC curve

c. crossing point of its MC curve and the demand curve facing the firm

d. all of the above

e. none of the above

Answer : d

Answer provided by www.AssignmentExpert.com