The price elasticity of demand is equal ti one for a demand curve, which is
Vertical line,
Rectangular hyperbola,
Horizontal line ,
Downward moving line
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vertical line elasticity of demand is equal it one for a demand
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The price elasticity of demand is equal to one for a demand curve, which is a rectangular hyperbola.
- A rectangular hyperbolic demand curve is used to depict unitary elastic demand.
- According to the whole outlay method, which maintains constant total expenditure over the demand curve, this makes sense.
- Price elasticity of demand measures how much a product's consumption changes in response to price changes.
- The demand for the good is said to be unitary elastic when the percentage change in the quantity demanded is equal to the percentage change in the price.
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