When Demand Is Unit Elastic,price Elasticity of Demand Equals

question 285

Multiple Choice

When demand is unit elastic,price elasticity of demand equals

• A)1,and total revenue and price move in the same direction.
• B)1,and total revenue and price move in opposite directions.
• C)1,and total revenue does not change when price changes.
• D)0,and total revenue does not change when price changes.

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Definitions:

Response Rate

The percentage of people who respond to a certain call-to-action out of the total number of people who were asked to take the action.

Rate of Return

A measure of the gain or loss on an investment over a specified period, typically expressed as a percentage of the investment's cost.

Census Conducted

Refers to the systematic collection, analysis, and publication of demographic, economic, and social data pertaining to all individuals in a particular area at a specified time.

Minority Groups

Communities or populations that differ in race, religion, or national origin from the dominant group and are often subject to differential treatment.