Please explain how was I incorrect
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price elasticity of demand is always negative. So, for the sake of simplicity, we ignore the -ve sign.
Therefore, Price Elasticity=1=unit elastic
Thank you
Can you please tell me, under which case we would consider an inelastic price elasticity coefficient of demand curve? As the question states demand curve, then the logic of simplicity would occur?
If price elasticity >1, Elastic and if less than 1 its Inelastic
( negative sign ko ignore krke sochna )
Yes yes, I understood. Actually type karne ke baad I realised it, but couldn’t delete the comment. Thank you