Demand Is Said to Be Unit Elastic If Quantity Demanded

question 255

Multiple Choice

Demand is said to be unit elastic if quantity demanded

• A)changes by the same percent as the price.
• B)changes by a larger percent than the price.
• C)changes by a smaller percent than the price.
• D)does not respond to a change in price.

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Definitions:

Private Branding

A strategy where products manufactured by one company are sold under another company's brand or label.

Private Labeling

A retail strategy where products are manufactured by one company but sold under another company's brand, often to offer exclusive branded products without the cost of manufacturing.

Reseller Branding

Strategy where a company sells products manufactured by others under its own brand name.

Private Branding

A strategy where products are produced by one company but are sold under another company's brand or label.