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16 February, 05:04

Unit Elastic is elasticity where a change in the independent variable (usually price) generates a proportional change of the dependent variable (quantity demanded or supplied).

Question 11 options:

True

False

+2
Answers (2)
  1. 16 February, 05:25
    0
    The correct answer is A) True.

    Explanation:

    Unit elastic demand is an economic theory that assumes a change in price will cause an equal proportional change in quantity demanded.

    In other words, it describes a demand or supply that is perfectly responsive to price changes by the same percentage.

    Cheers!
  2. 16 February, 05:28
    0
    True

    Explanation:

    Elasticity is an economic concept used to explain the variation of the demand of a product given a change in its price. It is assumed that an elastic good or product changes dramatically when prices rise or fall.
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Home » Business » Unit Elastic is elasticity where a change in the independent variable (usually price) generates a proportional change of the dependent variable (quantity demanded or supplied). Question 11 options: True False
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