Asked by
Averie gatzounas
on Oct 12, 2024
Verified
An elasticity of 1 would be considered
A) perfectly elastic.
B) elastic.
C) unit elastic.
D) inelastic.
E) perfectly inelastic.
Unit Elastic
A situation in demand or supply where a change in price leads to an equal proportionate change in quantity demanded or supplied.
- Apprehend the concept along with its implications of price elasticity of demand.
Verified Answer
VW
Learning Objectives
- Apprehend the concept along with its implications of price elasticity of demand.