Multiple Choice
Which of the statements below does not describe a demand curve that is unit elastic?
A) The percentage change in the quantity demanded = percentage change in product price.
B) An increase in product price will not change total revenue.
C) The price elasticity of demand equals one.
D) A change in price does not change quantity demanded.
E) A decrease in product price will not change total revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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