When the total revenue is unchanged despite the change in price,demand is
A) elastic.
B) inelastic.
C) unitary elastic.
D) horizontal.
E) vertical.

Question

Quizplus · Accepted Answer

When the change in price results in a proportional change in quantity demanded, demand is considered to be unitary elastic. In this case, the total revenue remains the same regardless of the change in price.

When the Total Revenue Is Unchanged Despite the Change in Price,demand