If demand for Cryonic Freezing after death is 24 then elast

If demand for \"Cryonic Freezing\" after death is - 2.4, then elasticity of demand for this service is considered

elastic

inelastic

unitary elastic

perfectly elastic

perfectly inelastic

Solution

Absolute value of the elasticity of demand = 2.4, which is higher than 1. Demand is elastic when absolute value of elasticity is more than 1.

Correct option (a).