PED line with 0 slope means it is
Perfectly inelastic
Perfectly elastic
None of the above
a PED line that is completely vertical means that it is
YED greater than 1 means
Luxury good
Inferior good
none of the above
YED less than 0 means
YED between 0 and 1 menas
Company with inelastic goods should
increase prices
lower prices
No change
Companies with elastic goods should
no change
Companies that have goods that are unit elastic should do what to increase their profit
increase price
lower price
doesnt matter what they do because their profit will always de the same
Unit elastic graph is seen as
havisng a flat slope
rectangular hyperbola
undefined slope
Substitute goods have a
positive cross elasticity
negative cross elasticity
not enough information to answer
