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2.2.7 Unit elasticity of demand
When a change in price causes an exact change in quantity demanded of a commodity, it is called unit elasticity of demand. The coefficient of elasticity is equal to one. The demand curve slopes more or less uniformly. We generally come across the above types of demand but the perfectly inelastic and unitary elastic demand curves are rare. |
Last modified: Monday, 26 December 2011, 9:18 AM