Answer
True
Work Step by Step
The elasticity of demand is elastic if E > 1. That's when the relative change in demand is greater than the relative change in price.
Calculus with Applications (10th Edition)
by Lial, Margaret L.; Greenwell, Raymond N.; Ritchey, Nathan P.
Published by
Pearson
ISBN 10:
0321749006
ISBN 13:
978-0-32174-900-0
Chapter 6 - Applications of the Derivative - Chapter Review - Review Exercises - Page 350: 4
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