If the volume sold reacts strongly to changes in price,demand:
A)has no elasticity.
B)has negative elasticity.
C)is inelastiC.
D)is elastic.
E)is unrealistic.

Question

Quizplus · Accepted Answer

If the volume sold reacts strongly to changes in price, it means that even a small change in price leads to a significant change in demand. This indicates that the demand is elastic, meaning consumers are price sensitive and will reduce their purchases significantly in response to a price increase, and increase significantly in response to a price decrease.

If the Volume Sold Reacts Strongly to Changes in Price,demand