Elasticity (e) expressed by the formula l > e

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Elasticity (e) expressed by the formula l > e > 0 is

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Elasticity (e) expressed by the formula l > e > 0 is

1. Perfectly elastic
2. Relatively elastic
3. Perfectly inelastic
4. Relatively inelastic

Correct Option: D

Elasticity (e) expressed by the formula 1 > e > 0 is relatively inelastic. Elasticity is responsiveness of one variable to a change in another, when other conditions are held constant.