What does it mean for demand to be unitary?
A) Prices go up or down, but revenues remain about the same.
B) Prices remain the same, but revenues go up and down.
C) Prices and revenue change unpredictably.
D) There is never a change in price or revenue.

Question

Quizplus · Accepted Answer

When demand is unitary, a change in price leads to a proportional change in quantity demanded, keeping total revenue constant.

What Does It Mean for Demand to Be Unitary