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Which of the following shapes of demand curve shows elasticity equal to unity at all points?

April 16, 2024 by rawan239

a rectangular hyperbola

a perpendicular

a parabola

a straight line

The correct answer is D. A straight line.

A straight line demand curve shows elasticity equal to unity at all points. This means that the percentage change in quantity demanded is equal to the percentage change in price.

A rectangular hyperbola demand curve shows elasticity greater than unity at all points. This means that the percentage change in quantity demanded is greater than the percentage change in price.

A perpendicular demand curve shows elasticity equal to zero at all points. This means that the percentage change in quantity demanded is zero, regardless of the percentage change in price.

A parabola demand curve shows elasticity less than unity at all points. This means that the percentage change in quantity demanded is less than the percentage change in price.

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