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What effect does unit elasticity have on total expenditure?
  • a)
    Total expenditure increases with a price increase
  • b)
    Total expenditure decreases with a price decrease
  • c)
    Total expenditure is irrelevant in unitary elasticity
  • d)
    Total expenditure remains constant regardless of price changes
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
What effect does unit elasticity have on total expenditure?a) Total ex...
When demand is unit elastic, a change in price does not affect total expenditure. This occurs because the percentage change in quantity demanded is exactly equal to the percentage change in price, leading to no net change in revenue.
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