Economics · Microeconomics

When a certain percentage change in the price of a commodity leads to an equal percentage change in its quantity demanded, the price elasticity of demand is said to be:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Less than unity
2Perfectly elastic
3Perfectly inelastic
4Equal to unity✓

Correct answer

Equal to unity

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When a certain percentage change in the price of a commodity leads to an equal percentage change in its quantity demanded, the price elasticity of demand is said to be:

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When a certain percentage change in the price of a commodity leads to an equal percentage change in its quantity demanded, the price elasticity of demand is said to be:

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