If Demand Is Unit Elastic, a 25 Percent Increase in Price

question 57

Multiple Choice

If demand is unit elastic, a 25 percent increase in price will result in

• A) a 25 percent change in total revenue.
• B) no change in the quantity demanded.
• C) a 1 percent decrease in the quantity demanded.
• D) a 25 percent decrease in the quantity demanded.
• E) a 100 percent change in the quantity demanded.

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