I need the answer as soon as possible 55. If demand is unitary elastic, a 25%increase in price will result inA. O 25% change in total revenueB. O No change in quantity demandedC. O 1% decrease in quantity demandedD. O 25% decrease in quantitydemanded

Price elasticity of demand indicates the proportional change in demand due to a proportional change…

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- If demand is unitary elastic, a 25% increase in price will result in

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 5QR

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I need the answer as soon as possible

55. If demand is unitary elastic, a 25%
increase in price will result in
A. O 25% change in total revenue
B. O No change in quantity demanded
C. O 1% decrease in quantity demanded
D. O 25% decrease in quantity
demanded

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