If demand for a product is unit elastic, then increasing the price of the product will leave total revenue unchanged.

Name: If demand for a product is unit elastic, then increasing the price of the product will leave total revenue unchanged.
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Question

Quizplus · Accepted Answer

When demand is unit elastic, the percentage change in quantity demanded is exactly equal to the percentage change in price, resulting in no change in total revenue.

If Demand for a Product Is Unit Elastic, Then Increasing