Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

Question

If demand is unitary elastic, a 25% increases in price will result in

A 25% change in total revenue
B No change in quantity demanded
C 1% decrease in quantity demanded
D 25% decrease in quantity demanded

Answer & Explanation

Answer: 25% decrease in quantity demanded

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