When Demand Is Unit Elastic,price Elasticity of Demand Equals

question 285

Multiple Choice

When demand is unit elastic,price elasticity of demand equals

• A)1,and total revenue and price move in the same direction.
• B)1,and total revenue and price move in opposite directions.
• C)1,and total revenue does not change when price changes.
• D)0,and total revenue does not change when price changes.

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Definitions:

Quantity of Labor

The total number of labor hours employed in the production of goods and services over a specific period.

Resource Use

Refers to the way in which human societies utilize natural resources to fulfill their needs and wants.