MyQuestionIcon

1

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

Elastic and Inelastic Demand

When is elast...

Question

When is elasticity of demand called unitary?

Open in App

Solution

Demand is said to be unit elastic when the proportionate change in demand produces the same change in the price. The quantity demanded changes by the same percentage as the change in price.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Unitary elastic demand.

Q. Unitary elastic demand means ________________.

Q. Unitary elastic demand rarely occurs in practice.

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

Q. Define or explain the following concepts:

1. Cross Elasticity of Demand

2. Unitary Elastic Demand

3. Income Elasticity of Demand

4. Elastic Demand

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Demand

ECONOMICS

Watch in App

explore_more_icon

Explore more

Elastic and Inelastic Demand

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon