Demand Is Unit Elastic Whenever

question 115

Multiple Choice

Demand is unit elastic whenever

• A)price elasticity has an absolute value of 1
• B)price elasticity has an absolute value greater than 1
• C)price elasticity has an absolute value less than 1
• D)price elasticity is negative
• E)consumers always respond to a one-dollar change in price by decreasing their quantity demanded by one unit

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