Difference between revisions of "Unit elasticity of demand"

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'''Unit price elasticity of demand''', or unitary [[demand]], is when an increase in [[price]] causes the same percent decrease in quantity demanded, and total [[revenue]] (price times quantity) remains unchanged.
 
'''Unit price elasticity of demand''', or unitary [[demand]], is when an increase in [[price]] causes the same percent decrease in quantity demanded, and total [[revenue]] (price times quantity) remains unchanged.
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[[Category:Economics]]
 
[[Category:Economics]]

Revision as of 02:00, September 9, 2011

Unit price elasticity of demand, or unitary demand, is when an increase in price causes the same percent decrease in quantity demanded, and total revenue (price times quantity) remains unchanged.

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