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If the Demand Curve Is Unit Elastic, This Implies That

Question 111

Multiple Choice

If the demand curve is unit elastic, this implies that:


A) consumers do not react to a change in product price.
B) the good can only be purchased in units of 1.
C) this good has no good substitutes.
D) the good is a basic food staple.
E) the percentage change in the quantity demanded = the percentage change in product price.

Correct Answer:

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