Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the price is increased to $40, then one would expect sales to equal:

Sagot :

ayfat23

It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.

What is elastic demand?

An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.

An inelastic demand entails change in quantity demanded due to a change in price is small.

Learn more about elastic demand at;

https://brainly.com/question/24384825

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.