Suppose the price P on a given demand curve results in a price elasticity of demand equal to 1.This price is on the ______ portion of the demand curve.
A)elastic
B)unitary elastic
C)inelastic
D)steepest

Name: Suppose the price P on a given demand curve results in a price elasticity of demand equal to 1.This price is on the ______ portion of the demand curve. A)elastic B)unitary elastic C)inelastic D)steepest
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Question

Quizplus · Accepted Answer

Along a straight-line demand curve,price elasticity at the mid-point is always one.

Suppose the Price P on a Given Demand Curve Results