what does the demand curve look like if demand is unit elastic
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Explanation:-
Demand elasticity of a good with unit elastic demand is 1 (strictly speaking, elasticity equals -1 since the demand curve. The price is plotted on the vertical (Y) axis while the quantity is plotted on the horizontal (X) axis. is downward sloping; but in most cases, elasticity is calculated as an absolute value).
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Answer:
Demand elasticity of a good with unit elastic demand is 1 (strictly speaking, elasticity equals -1 since the demand curve. The price is plotted on the vertical (Y) axis while the quantity is plotted on the horizontal (X) axis. is downward sloping; but in most cases, elasticity is calculated as an absolute value).
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