When percentage change in quantity equals percentage change in price, magnitude of elasticity of demand is equal to .

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Solution

The correct option is B 1
When percentage change in quantity equals percentage change in price, magnitude of elasticity of demand is equal to 1. This is the situation of unit elasticity.

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When percentage change in quantity equals percentage change in price, magnitude of elasticity of demand is equal to .

The correct option is B 1When percentage change in quantity equals percentage change in price, magnitude of elasticity of demand is equal to 1. This is the situation of unit elasticity.

The correct option is B 1
When percentage change in quantity equals percentage change in price, magnitude of elasticity of demand is equal to 1. This is the situation of unit elasticity.