When percentage change in demand is equal to the percentage change in price the demand for the commodity is said to be unitary elastic?

When percentage change in quantity demanded is equal to percentage change in price, then demand for such a commodity is said to be ______

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When the percentage change in demand is equal to percentage change in price the product is said to have?
When demand is elastic then percentage change in demand to a change in price is?
When the percentage change in quantity demanded is the same as the percentage change in price demand is said to have unitary elasticity?
When percentage change in quantity demanded is equal to changes in price the demand curve is * 1 point steeper flatter rectangular hyperbola vertical?

Perfectly Elastic
Relatively Elastic
Unitary Elastic
None of the above

When percentage change in quantity demanded is equal to percentage change in price, then demand for such a commodity is said to be Unitary Elastic.

Explanation:

Perfectly Elastic Demand (Ed = ∞): Demand for a commodity is said to be completely elastic when the percentage change in quantity demanded is infinite with a minor increase in price. In this case, the demand curve is parallel to the X-axis.
Unitary Elastic Demand (Ed = 1): Demand for a commodity is said to be unitary elastic when the percentage change in quantity demanded equals the percentage change in price. The demand curve is shaped like a rectangular hyperbola, with unity elasticity at all points.
Relatively Elastic Demand (Ed > 1): Demand is considered to be extremely elastic when a percentage change in the price of a commodity induces a higher percentage change in the amount desired.

Concept: Measurement of Elasticity of Demand

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When the percentage change in demand is equal to percentage change in price the product is said to have?

When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic. Was this answer helpful?

When demand is elastic then percentage change in demand to a change in price is?

One is the case of perfectly price elastic demand or supply. Demand is perfectly price elastic if for any percentage decrease in price, no matter how small, the percentage change in quantity demanded is infinitely large—demanders demand all that they can.

When the percentage change in quantity demanded is the same as the percentage change in price demand is said to have unitary elasticity?

the percentage change in quantity demanded is larger than the percentage change in price in absolute value (a demand elasticity with an absolute value greater than 1). When the percentage change in quantity demanded is the same as the percentage change in price, demand is said to have unitary elasticity.

When percentage change in quantity demanded is equal to changes in price the demand curve is * 1 point steeper flatter rectangular hyperbola vertical?

Solution. When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter.

When percentage change in demand is equal to the percentage change in price the demand for the commodity is said to be unitary elastic?

When the percentage change in demand is equal to percentage change in price the product is said to have?

When demand is elastic then percentage change in demand to a change in price is?

When the percentage change in quantity demanded is the same as the percentage change in price demand is said to have unitary elasticity?

When percentage change in quantity demanded is equal to changes in price the demand curve is * 1 point steeper flatter rectangular hyperbola vertical?

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