If Demand Is Unitary Elastic, a Reduction in Price Leaves

question 261

Multiple Choice

If demand is unitary elastic, a reduction in price leaves total revenue unchanged because

• A) the percentage increase in quantity demanded exceeds the percentage decrease in price.
• B) the percentage decrease in price exceeds the percentage increase in quantity demanded.
• C) demand is unresponsive to changes in price.
• D) the percentage changes in quantity demanded and price are equal.

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