Consider some price range in which a slight change in either direction will have practically no effect on total revenue.This part of the demand curve is said to have unitary elasticity.

Question

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Unitary elasticity occurs when the percentage change in quantity demanded is equal to the percentage change in price, resulting in no net effect on total revenue. This occurs at a specific point on the demand curve where elasticity is exactly 1.

Consider Some Price Range in Which a Slight Change in Either