A Unit Elastic Demand

question 27

Multiple Choice

A unit elastic demand

• A)means that the ratio of a change in quantity demanded to a change in price is equal to 1.
• B)means that the ratio of a percentage change in quantity demanded to a percentage change in price is equal to 1.
• C)means that the ratio of a change in price to a change in quantity demanded is equal to 1.
• D)is illustrated by a horizontal demand curve.
• E)is illustrated by a vertical demand curve.

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Definitions:

Equation

A mathematical statement asserting the equality of two expressions, typically involving one or more variables.

Graph

A visual representation of data or mathematical functions typically displayed using lines, bars, or points on a coordinate system.

Equation

A mathematical proposition that claims equality between two expressions, generally involving variables.

Matching

Matching is a process of pairing or associating items that are similar or correspond to each other, often used in educational settings or algorithms.