When demand is unit elastic the percentage change in quantity demanded is the percentage change in price quizlet?

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When demand is unit elastic the percentage change in quantity demanded is?
When demand is elastic How does the percentage change in quantity demanded compare to the percentage change in price?
When demand is elastic How does the percentage change in quantity demanded compare to the percentage change in price quizlet?
When the percentage change in quantity demanded is the same as the percentage change in price demand is said to have unitary elasticity?

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For the current year ended March 31, Chewy Company expects fixed costs of $900,000, unit variable cost of$75, and a unit selling price of $120.

b. Compute the sales (units) required to realize income from operations of$112,500.

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When demand is unit elastic the percentage change in quantity demanded is?

Unit elastic demand is referred to as a demand in which any change in the price of a good leads to an equally proportional change in quantity demanded. In other words, the unit elastic demand implies that the percentage change in quantity demanded is exactly the same as the percentage change in price.

When demand is elastic How does the percentage change in quantity demanded compare to the percentage change in price?

The price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the quotient is greater than or equal to one, the demand is considered to be elastic. If the value is less than one, demand is considered inelastic.

When demand is elastic How does the percentage change in quantity demanded compare to the percentage change in price quizlet?

Elasticity of demand is equal to the percentage change in quantity demanded divided by the percentage change in price. Because this will always be a negative number, the convention is to take the absolute value. what happens when the elastic demand value is greater than 1?

When the percentage change in quantity demanded is the same as the percentage change in price demand is said to have unitary elasticity?

the percentage change in quantity demanded is larger than the percentage change in price in absolute value (a demand elasticity with an absolute value greater than 1). When the percentage change in quantity demanded is the same as the percentage change in price, demand is said to have unitary elasticity.