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 percent increase in price leads to a one-unit decrease in quantity demanded.
C) the price elasticity of demand is positive.
D) the price elasticity of demand is exactly zero.
E) the price elasticity of demand is exactly 1.
Correct Answer:
Verified
Correct Answer:
Verified
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