Maharashtra State BoardHSC Commerce 12th Board Exam
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Define Or Explain the Following Concept: Unitary Elastic Demand - Economics

Short Note

Define or explain the following concept:

Unitary Elastic Demand

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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.

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