MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Price Elasticity of Supply

Unitary elast...

Question

Unitary elastic demand rarely occurs in practice.

A

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A True
True. Unitary elastic demand means the percentage change in price is similar to the percentage change in the quantity demanded of a product. This is a mathematical concept is not seen in real life.

Suggest Corrections

thumbs-up

0

Similar questions

Q. State whether the following statement are TRUE and FALSE.

1. Demand for luxuries is elastic.

2. Perfectly inelastic demand curve is parallel to the X axis.

3. Total outlay is price multiplied by quantity.

4. Unitary Elastic Demand rarely occurs in practice.

5. Concept of Elasticity of Demand is useful for finance minister.

Q. Unitary elastic demand.

Q. Unitary elastic demand means ________________.

Q. Define or explain the concept of 'unitary elastic demand'.

When is elasticity of demand called unitary?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Supply

ECONOMICS

Watch in App

explore_more_icon

Explore more

Price Elasticity of Supply

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon