-Refer to the above table. Demand is unit elastic between the prices of
A) $5.00 & $10.00.
B) $6.00 & $7.00.
C) $6.00 & $6.50.
D) $7.00 & $7.50

Question

-Refer to the above table. Demand is unit elastic between the prices of
A) $5.00 & $10.00. 
B) $6.00 & $7.00. 
C) $6.00 & $6.50. 
D) $7.00 & $7.50

Quizplus · Accepted Answer

Demand is unit elastic when the percentage change in quantity demanded is equal to the percentage change in price. In this case, the percentage change in quantity demanded between $6.00 and $6.50 is 10%, and the percentage change in price is also 10%. Therefore, demand is unit elastic between $6.00 and $6.50.

-Refer to the Above Table