Soru
The demand for plums is unit elastic if __ . A. a 5 percent rise in the price of plums results in a 5 percent decrease in the quantity of plums demanded B. my demand for plums increases when the price of apples falls C. any increase in the price of plums results in a 1 percent decrease in the quantity of plums demanded D. the price of plums does not change after a drought
Çözüm
4.1
(261 Oylar)
Hacer
Elit · 8 yıl öğretmeni
Uzman doğrulaması
Cevap
The correct answer is A. A unit elastic demand means that the percentage change in quantity demanded is equal to the percentage change in price. Therefore, if there is a 5 percent rise in the price of plums, it would result in a 5 percent decrease in the quantity of plums demanded, indicating unit elasticity.