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If a 1% change in the price of a good causes a 1% change in the quantity demanded, the good has an elasticity of demand: a. equal to 1. b. less than 1. c. equal to 0. d. greater than 1.

Respuesta :

Answer:

a. equal to 1. 

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price.

1% / 1 % = 1

Demand is unit elastic.

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