The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the price is increased to $40, t

Question

2 years ago

5

hen one would expect sales to equal:

1 answer:

Gekata [30.6K] · Answer 1 · 2022-12-29T09:56:38+03:00

It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.

<h3>What is elastic demand?</h3>

An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.

An inelastic demand entails change in quantity demanded due to a change in price is small.

Learn more about elastic demand at;