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 equals the 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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