An elasticity of 1 would be considered
A)perfectly elastic.
B)elastic.
C)unit elastic.
D)inelastic.
E)perfectly inelastic.

Name: An elasticity of 1 would be considered A)perfectly elastic. B)elastic. C)unit elastic. D)inelastic. E)perfectly inelastic.
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

An elasticity of 1 is referred to as unit elastic, meaning that a change in price results in an equal change in quantity demanded, resulting in no change in revenue for the seller.

An Elasticity of 1 Would Be Considered