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Define or explain the concept of 'unitary elastic demand'.

Define or explain the concept of 'unitary elastic demand'.

Grade:12th pass

2 Answers

Vikas TU
14149 Points
9 months ago
Dear student 
In case of unitary elastic demand, the proportion of change in demand is equal to proportion of change in price. which means the change in the ratio of the price of the goods and services is equal to the change in demand of the goods and services.
Vikas Amritiya
askIITians Faculty 158 Points
9 months ago
The demand for a good is unitary elastic if a change in the price of that good causes an equal change in quantity demanded. In other words, the elasticity coefficient is equal to 1.

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