Homework Answers
1.Unit elastic demand means the percentage change in price is exactly equal to the percentage change in the quantity demanded
It means the slope of the the demand curve is downward .
so the answer is option B .
2.Marginal benefit in simple terms can be defined as the benefit received consuming one additional extra unit of good and service .
It is quantity based so it represent one additional quantity .
It has nothing to do with the efficiency .
So the answer is option d
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