Question

What does unitary elastic demand mean ?

Answer 1

Respuesta:

The unit elasticity demand means that the percentage of variation of the price and of the quantity demanded are equal, although with the opposite sign: if the price increases (decreases), for example, by 20%, the quantity demanded decreases (increases) by 20

Explicación:

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Answer 2

Respuesta:

Elasticity can be described as elastic—or very responsive—unit elastic, or inelastic—not very responsive. ... Unitary elasticity means that a given percentage change in price leads to an equal percentage change in quantity demanded or supplied.

Explicación: