When demand is unit elastic, a change in price causes total revenue to stay the same because A. total revenue never changes wit

Question

3 years ago

14

When demand is unit elastic, a change in price causes total revenue to stay the same because A. total revenue never changes wit

h price changes. B. the percentage change in quantity demanded exactly offsets the percentage change in price. C. the change in profit is offset by the change in production cost. D. buyers are buying the same quantity.

Business

1 answer:

Keith_Richards [23] · Answer 1 · 2022-07-03T07:21:31+03:00

Keith_Richards [23]3 years ago

8 0

Answer:

B. the percentage change in quantity demanded exactly offsets the percentage change in price

Explanation:

Unit elastic demand is an economic theory that assumes a change in price will cause an equal proportional change in quantity demanded.

When demand is unit​ elastic, a change in price causes total revenue to stay the same because A. total revenue never changes wit

When demand is unit elastic, a change in price causes total revenue to stay the same because A. total revenue never changes wit