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.

Name: 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.
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Question

Quizplus · Accepted Answer

When demand reacts strongly to changes in price, it is considered elastic, meaning consumers are sensitive to price changes.

If the Volume Sold Reacts Strongly to Changes in Price