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    Question

    When the quantity demanded of a good change by exactly

    the same percentage as price, the demand is said to be:
    A Perfectly inelastic Correct Answer Incorrect Answer
    B Perfectly elastic Correct Answer Incorrect Answer
    C Unitary elastic Correct Answer Incorrect Answer
    D Relatively elastic Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Unitary elastic demand: The quantity demanded of a good change by exactly the same percentage as price.

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