Multiple Choice
Unit elastic demand occurs when
A) a one-unit increase in price leads to a one-unit decrease in quantity demanded
B) a 1% increase in price leads to a one-unit decrease in quantity demanded
C) price elasticity of demand is positive
D) price elasticity of demand is exactly zero
E) price elasticity of demand is exactly -1
Correct Answer:
Verified
Correct Answer:
Verified
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