If demand is unit elastic between 2 points (using the mid-point method): Total revenue and prices...

Question

Question

If demand is unit elastic between 2 points (using the mid-point method): Total revenue and prices rise and fall together. Tot

Answer 1

Answer #1

Ans) the correct option is d) total revenue remains constant as price rises or falls

When the price elasticity of demand is unit elastic, the percentage change in price is equal to the percentage change in quantity demanded

Answer 2

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