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

Question

Taryn Kirby

Business

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)

Know the Answer?

Gavyn Kaufman · Answer 1

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!

Betty Boop · Answer 2

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.

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:TrueFalse

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