Multiple Choice
According to the Case in Point on Stop Lights, Professors Bar-Ilan and Sacerdote found that the absolute value of the elasticity of citations with respect to fines was:
A) greater than 1 indicated inelastic demand.
B) greater than 1 indicated elastic demand.
C) less than 1 indicated inelastic demand.
D) less than 1 indicated elastic demand.
Correct Answer:
Verified
Correct Answer:
Verified
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