When Demand Is Unit Elastic, a Decrease in Price Will

question 76

True/False

When demand is unit elastic, a decrease in price will result in no change in total revenue.

---

Definitions:

Polarization

Description and evaluation of what you observe in terms of extremes such as good or bad, old or new, beautiful or ugly.

Vagueness

A lack of clearness or distinctness in description, expression, or detail.

Denotative Meanings

The explicit or direct meanings of words or phrases in contrast to their connotative or associated meanings.

Metaphorical

Pertaining to or characterized by the use of a figure of speech in which a term or phrase is applied to something to which it is not literally applicable in order to suggest a resemblance.