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  • When quantity demanded changes by exactly the same percen...
Multiple choice

When quantity demanded changes by exactly the same percentage as price, it is called

  1. perfectly inelastic

  2. perfectly elastic

  3. unit elasticity

  4. elastic

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Elasticity is unitary, if % change in quantity demanded is equal to % change in the price.

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