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Open it when the elasticity coefficient is equal to negative one, demand is said to be unit elastic , or unitary elastic
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4.1. Own-Price Elasticity of Demand . To be precise, when the magnitude(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be inelastic. When that magnitude is greater than one, demand is defined to be elastic . And <span>when the elasticity coefficient is equal to negative one, demand is said to be unit elastic , or unitary elastic . Note that if the law of demand holds, own-price elasticity of demand will always be negative, because a rise in price will be associated with a fall in quantity demanded, but it can b
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