A demand relationship in which the quantity demanded changes exactly in proportion to the change in price is
A) elastic.
B) unit-elastic.
C) inelastic.
D) consistent with zero elasticity.

Question

Quizplus · Accepted Answer

Unit-elastic demand means that the percentage change in quantity demanded is exactly equal to the percentage change in price, indicating a one-to-one relationship between price change and quantity demanded change.

A Demand Relationship in Which the Quantity Demanded Changes Exactly