Multiple Choice
If demand is unit-elastic,a 25 percent increase in price will result in:
A) a 25 percent change in total revenue.
B) no change in quantity demanded.
C) a 1 percent decrease in quantity demanded.
D) a 25 percent decrease in quantity demanded.
E) a 100 percent change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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