What term accurately describes demand when the quantity demanded changes in the same proportion as the price?
A) inelastic
B) independent
C) elastic
D) unit elastic

Question

Quizplus · Accepted Answer

When the quantity demanded changes in the same proportion as the price, it is known as unit elastic demand. This means that the percentage change in quantity demanded is equal to the percentage change in price, resulting in a demand curve with an elasticity of 1.

What Term Accurately Describes Demand When the Quantity Demanded Changes