Unitary Elasticity
Definition
Elasticity exactly equal to 1 in absolute value. A 1% price change produces a 1% quantity change; total revenue is unchanged.
Example
Linear demand has unitary elasticity at exactly the midpoint of the curve.
Elasticity exactly equal to 1 in absolute value. A 1% price change produces a 1% quantity change; total revenue is unchanged.
Linear demand has unitary elasticity at exactly the midpoint of the curve.