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:

Untestable

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Superiority

A belief or attitude that one person or group is better than another, often leading to prejudiced behavior or discrimination.

Personality Development

The ongoing process by which an individual's character patterns of thought, feelings, and behaviors develop over time.

Adler

Refers to Alfred Adler, an Austrian medical doctor and psychotherapist, founder of the school of individual psychology.