When Demand Is Unit Elastic, a Change in Price Causes

question 8

Multiple Choice

When demand is unit elastic, a change in price causes total revenue to stay the same because

• A)the percentage change in quantity demanded exactly offsets the percentage change in price.
• B)buyers are buying the same quantity.
• C)total revenue never changes with price changes.
• D)the change in profit is offset by the change in production cost.

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Definitions:

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The way in which various components or elements are arranged and combined to form a whole, applicable in art, literature, and science.