Q311
If the price of 'X' rises by 10 percent and the quantity demanded falls by 10 percent, 'X' has
A.
Inelastic demand
B.
Unitarily elastic demand
AnswerC.
Zero elastic demand
D.
Elastic demand
Answer: Option B
Solution
Answer: Option B
Solution:
If the price of 'X' rises by 10 percent and the quantity demanded falls by 10 percent, 'X' has Unitarily elastic demand.