Unitary Demand Is Defined as a Situation Where Price Changes

question 10

True/False

Unitary demand is defined as a situation where price changes are offset exactly by changes in demand; in other words,price and demand are perfectly related.

Recognize the role of capital flow in markets and its impact on industry profitability and equilibrium.

Identify the effects of wage changes on labor markets and associated industry input costs.

Comprehend the importance of input markets and their relation to output markets.

Evaluate the effects of shifts in demand and supply on resource allocation and industry costs.