When the elasticity coefficient for resource demand is less than one, resource demand is

A) inelastic.
B) elastic.
C) unit-elastic.
D) infinitely elastic.

Elasticity Coefficient

A numerical measure of the responsiveness of quantity demanded or supplied to one of its determinants, such as price or income.

Resource Demand

The requirement for resources or inputs necessary for production in response to market needs.

Infinitely Elastic

A situation in which the quantity demanded or supplied changes by an unlimited amount in response to any change in prices.