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Q7.Define unitary elastic demand and draw a curve for it.what is the significance of the unitary elastic demand?
ans.Unitary elastic demand -when the percentage change in the quantity demanded is equal to the percentage change in price ,then the demand for such commodity is said to be unitary elastic.in this case Ed=1
Dear student
Your answer is correct
In Unitary elastic demand, elasticity = 1 at all points of demand curve.
Regards
Your answer is correct
In Unitary elastic demand, elasticity = 1 at all points of demand curve.
Regards