Demand Is Said to Be Unit Elastic If

question 127

Multiple Choice

Demand is said to be unit elastic if:

• A)the demand curve shifts by the same percentage amount as the price
• B)quantity demanded changes by a larger percentage than the price
• C)quantity demanded changes by the same percentage as the price
• D)quantity demanded does not respond to a change in price

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Definitions:

Motion for New Trial

A formal request to a court asking to nullify a jury's decision and grant a new trial due to errors or unfairness in the original trial.

Judgment N.o.v.

Short for "judgment non obstante veredicto," a legal move where a court reverses the jury's verdict if it finds no reasonable jury could have reached that verdict.

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