If price elasticity equals one in absolute terms

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Reference no: EM131196000

If price elasticity equals one in absolute terms, it means:

A) The percentage change in quantity is always one percent for any percentage change in price.

B) Total Revenue will stay the same even if price increases or decreases

C) Total Revenue will increase in the same proportion as the increase in price.

D) Total Revenue will always increase in one percent if price changes in any amount.

Reference no: EM131196000

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