If the demand for salmon in Cape Breton,Nova Scotia,is unit elastic,the price elasticity of demand for salmon equals
A)1.0.
B)100.0.
C)0.10.
D)zero.
E)10.0.

Question

Quizplus · Accepted Answer

Unit elastic demand means that the percentage change in quantity demanded is equal to the percentage change in price. This means that the price elasticity of demand (PED) is equal to 1.0.

If the Demand for Salmon in Cape Breton,Nova Scotia,is Unit