Question : There are how many types of elasticty of demand are there?
Option 1: Two
Option 2: Five
Option 3: Three
Option 4: Four
Answer (1)
19th Jan, 2024
Correct Answer: Five
Solution :
Elasticity of demand can be broadly classified into five types: perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary.
Hence option b is the correct answer.
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