Economics · Elasticity of Demand
When the demand curve is represented by a rectangular hyperbola, the price elasticity of demand is always:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Zero (e = 0)
- 2Equal to Unity (e = 1)✓
- 3Greater than Unity (e > 1)
- 4Less than Unity (e < 1)
Correct answer
Equal to Unity (e = 1)
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