When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is __________.

elastic

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unitary elastic

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inelastic

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perfectly elastic

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Solution

The correct option is B unitary elastic
When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.

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When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is __________.

The correct option is B unitary elasticWhen percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.

The correct option is B unitary elastic
When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.