If the Demand Curve Is Unit Elastic, This Implies That

question 111

Multiple Choice

If the demand curve is unit elastic, this implies that:

• A) consumers do not react to a change in product price.
• B) the good can only be purchased in units of 1.
• C) this good has no good substitutes.
• D) the good is a basic food staple.
• E) the percentage change in the quantity demanded = the percentage change in product price.

---

Definitions:

Increase Value

Enhancing the worth or profitability of an asset or company through various strategies and operations.

Teamsters Union

A labor union representing a diverse membership of blue-collar and professional workers in various industries across the United States and Canada.

Time Standards

Predetermined times established for performing tasks, used to set work schedules and measure productivity.

Shipping Business

A sector involved in the transportation of goods by sea, encompassing freight shipping companies, container shipping, and logistics services.