Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

Define Or Explain the Following Concept: Unitary Elastic Demand - Economics

Short Note

Define or explain the following concept:

Unitary Elastic Demand

Advertisement Remove all ads

Solution

Unitary elastic demand implies that a change in the price of a commodity leads to a proportionate change in the quantity demanded of that commodity. For instance, if the demand for Good X is unitary elastic, a 50% increase in the price of Good X will lead to a 50% decline in the quantity demanded of Good X. In this case, Ed = 1.

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 4 Elasticity of Demand
Exercise | Q 1.2 | Page 31
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×