The demand for a good is unitary elastic if a change in the price of that good causes an equal change in quantity demanded. In other words, the elasticity coefficient is equal to 1.
Unitary demand is a type of demand which changes in the same proportion to its price; this means that the percentage change in demand is exactly equal to the percentage change in price.
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Answer:
The demand for a good is unitary elastic if a change in the price of that good causes an equal change in quantity demanded. In other words, the elasticity coefficient is equal to 1.
Unitary demand is a type of demand which changes in the same proportion to its price; this means that the percentage change in demand is exactly equal to the percentage change in price.