If the price of a good increases by 10% and the quantity demanded decreases by 10%, then at that price, the good is
A)elastic.
B)inelastic.
C)perfectly inelastic.
D)unit elastic.

Name: If the price of a good increases by 10% and the quantity demanded decreases by 10%, then at that price, the good is A)elastic. B)inelastic. C)perfectly inelastic. D)unit elastic.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the percentage change in quantity demanded is equal to the percentage change in price, the good is considered to be unit elastic.

If the Price of a Good Increases by 10% and the Quantity