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Author Question: Unit elastic demand occurs when a. a one-unit increase in price leads to a one-unit decrease in ... (Read 97 times)

cool

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on: Jul 1, 2018
Unit elastic demand occurs when
 a. a one-unit increase in price leads to a one-unit decrease in quantity demanded
  b. a 1 increase in price leads to a one-unit decrease in quantity demanded
  c. price elasticity of demand is positive
  d. price elasticity of demand is exactly zero
  e. price elasticity of demand is exactly -1

Question 2

Demand is elastic whenever
 a. price elasticity has an absolute value of 1
  b. price elasticity has an absolute value greater than 1
  c. price elasticity has an absolute value less than 1
  d. price elasticity is negative
  e. consumers respond to a change in price


alexisweber49

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

B


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