Question

match each description to the correct mathematical coefficient.

coefficient > 1
coefficient < 1
coefficient = 1

unit elastic
inelastic
elastic

Explanation:

Define elasticity coefficients

Elasticity measures responsiveness to price changes.

Analyze coefficient greater than one

A coefficient greater than one indicates high responsiveness.
This corresponds to elastic demand.

Analyze coefficient less than one

A coefficient less than one indicates low responsiveness.
This corresponds to inelastic demand.

Analyze coefficient equal to one

A coefficient equal to one indicates proportional responsiveness.
This corresponds to unit elastic demand.

Answer:

Description	Mathematical Coefficient
coefficient < 1	inelastic
coefficient = 1	unit elastic