Explain the case of unitary elastic demand curve.

A unitary elastic demand curve, also known as unitary elasticity of demand, represents a specific scenario in economics where the percentage change in the quantity demanded for a good is exactly equal to the percentage change in its price. In other words, when the price of a product changes, the change in quantity demanded is proportionally equal, resulting in a demand curve with an elasticity coefficient of exactly 1.

To understand the concept of a unitary elastic demand curve, let's delve into its characteristics, significance, and some real-world examples:

Characteristics of a Unitary Elastic Demand Curve:

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