If demand for a good is unit-elastic (the price elasticity of demand is 1), an increase in

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■ If demand for a good is unit-elastic (the price elasticity of demand is 1), an increase in price does not change total revenue. In this case, the quantity effect and the price effect exactly offset each other.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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Question Posted: Oct 03, 2024 03:03 AM

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If demand for a good is unit-elastic (the price elasticity of demand is 1), an increase in

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Essentials Of Economics

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