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Question
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | A. | Ed = 0 |
| (ii) | Perfectly inelastic demand | B. | Ed = ∞ |
| (iii) | Relatively elastic demand | C. | Ed < 1 |
| (iv) | Relatively inelastic demand | D. | Ed > 1 |
Options
(i) A, (ii) D, (iii) C, (iv) B
(i) A, (ii) B, (iii) D, (iv) C
(i) B, (ii) A, (iii) D, (iv) C
(i) D, (ii) C, (iii) A, (iv) B
Solution
(i) B, (ii) A, (iii) D, (iv) C
Explanation:
| Column I | Column II | ||
| (i) | Perfectly elastic demand | B. | Ed = ∞ |
| (ii) | Perfectly inelastic demand | A. | Ed = 0 |
| (iii) | Relatively elastic demand | D. | Ed > 1 |
| (iv) | Relatively inelastic demand | C. | Ed < 1 |
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