Demand is said to have unit elasticity if elasticity is
A) less than 1.
B) greater than 1.
C) equal to 1.
D) equal to 0.

Name: Demand is said to have unit elasticity if elasticity is A) less than 1. B) greater than 1. C) equal to 1. D) equal to 0.
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Question

Quizplus · Accepted Answer

Unit elasticity occurs when the percentage change in quantity demanded is exactly equal to the percentage change in price, resulting in an elasticity of 1. This means that a change in price will cause an equal and opposite change in quantity demanded.

Demand Is Said to Have Unit Elasticity If Elasticity Is