If a good has unitary price elasticity of demand, then the absolute value of the percentage change in _____ equals _____.
A) quantity demanded; one
B) price; one
C) quantity demanded; the absolute value of the corresponding percentage change in price
D) price; the absolute value of the percentage change in quantity demanded, plus one
Correct Answer:
Verified
Q60: The demand for a pack of gum
Q61: Total revenue is the amount a firm:
A)
Q62: The price elasticity of demand for insulin
Q63: Assuming price elasticity of demand is reported
Q64: Assuming price elasticity of demand is reported
Q66: Perfectly inelastic demand occurs when:
A) consumers are
Q67: A good with a unit elastic demand
Q68: A vertical demand curve indicates that:
A) the
Q69: A horizontal demand curve indicates that:
A) quantity
Q70: Assuming price elasticity of demand is reported
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents