When demand has unit elasticity, revenue will decrease if price is lowered/raised/stays the same/changes in either direction
Question
Solution 1
When demand has unit elasticity, revenue will stay the same if price is lowered, raised, or changes in either direction. This is because unit elasticity means that the percentage change in quantity demanded is exactly equal to the percentage change in price. Therefore, any change in price, whether a Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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