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A straight-line demand curve with negative slope intersects the horizontal axis at 200 tons per week. The point on the demand curve at which the price elasticity of demand is 1 corresponds to a quantity
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A straight-line demand curve with negative slope intersects the horizontal axis at 200 tons per week. The point on the demand curve at which the price elasticity of demand is 1 corresponds to a quantity demanded

User Guyyug
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1 Answer

2 votes

Answer:

100 tons

Step-by-step explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

When elasticity of demand is 1, demand is unit elastic. Demand is unit elastic if a small change in price has the same equal effect on quantity demanded.

User Nataki
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