If demand bounces around when prices change, it's .
A) elastic
B) stable
C) absolute
D) unreliable

Name: If demand bounces around when prices change, it's . A) elastic B) stable C) absolute D) unreliable
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Question

Quizplus · Accepted Answer

Demand is said to be elastic if it is highly responsive to changes in price, meaning that even small changes in price can cause significant changes in demand. When demand is elastic, demand bounces around when prices change, as stated in the question. Therefore, the best choice is A) elastic.

If Demand Bounces Around When Prices Change, It's