Which one of the following statements is incorrect:

1.	Which one of the following statements is incorrect:
Answer» <html><body><p>Higher numerical value of elasticity <a href="https://interviewquestions.tuteehub.com/tag/indicates-1041501" style="font-weight:bold;" target="_blank" title="Click to know more about INDICATES">INDICATES</a> larger effect of a <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> change on the quantity demanded.<br/>Elasticirty of <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> can vary only between -<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a> and +1. <br/>The demand curves for all commodities which have unitary elastic demand will be rectangular hyperbola. <br/>Elasticity of demand establishes a <a href="https://interviewquestions.tuteehub.com/tag/quantitative-22411" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITATIVE">QUANTITATIVE</a> relationship between quantity demanded of a commodity and its price. While other factors remain constant. </p>Solution :N/a</body></html>

Discussion