A characteristic of demand for a good where, at a given price, a 1% change in the price leads to exactly a 1% change in the quantity demanded is called unitary elastic demand.

Name: A characteristic of demand for a good where, at a given price, a 1% change in the price leads to exactly a 1% change in the quantity demanded is called unitary elastic demand.
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This is the definition of unitary elastic demand.

A Characteristic of Demand for a Good Where, at a Given