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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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