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| unit elastic definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | a given change in price causes a proportional change in quantity demanded | 4 sets | |
| 2 | percentage change in quantity demanded equals percentage change in price | 3 sets | |
| 3 | elasticity where a change in the independent variable (usually the price) generates a proportional change of the dependent variable (quantity demanded or supplied) | 3 sets | |
| 4 | if its price elasticity of demand is equal to one, the demand for a good is | 2 sets | |
| 5 | the demand for a good is unit elastic with respect to price if its price elasticity of demand is equal to one | 2 sets | |
| 6 | ∑i = 1 | 2 sets | |
| 7 | | emap | = 1 | 2 sets | |
| 8 | percentage change in quantity demanded equals percentage change in price. | 1 set | |
| 9 | demand increases proportionally to price increase (ed=1) | 1 set | |
| 10 | consumers respond perfectly, equals 1 | 1 set | |
| 11 | elasticity of 1 | 1 set | |
| 12 | given proce change causes a proortional change in quantity demanded | 1 set | |
| 13 | a given change in price causes a proportional change in quantity demanded. | 1 set | |
| 14 | elasticity where a change in the independent variable (price) generates a proportional change of the dependent variable (quantity demanded/supplied) | 1 set | |
| 15 | q dd changes in same proportion as a change in p | 1 set | |
| 16 | quantity demanded changes by the same percentage as does the price | 1 set | |
| 17 | no response to a change in price | 1 set | |
| 18 | percentage change in quantity demanded equals precentage change in price | 1 set | |
| 19 | demand is ____ when a given change in price causes a proportional change in the quantity demanded | 1 set | |
| 20 | the demand for a good is ____ with respect to its price if elasticity of demand is equal to 1 | 1 set | |
| 21 | demand is unit elastic with respect to price if price elasticity of demand equals 1 | 1 set | |
| 22 | elasticity where change in the independent variable generates a porportional change in the dependent variable | 1 set | |
| 23 | the given change in price causes a proportional change in quantity demanded. | 1 set | |
| 24 | elasticity where a change in the independent variable generates a proportional change of the dependent variable. | 1 set | |
| 25 | change in price, proportional change in quantity demanded | 1 set | |
| 26 | type of elasticity where a change in price causes a proportional change in quantity demanded. | 1 set | |