When ABC Gifts reduced its prices, the number of subscriptions it sold increased.This is an example of elasticity.

Name: When ABC Gifts reduced its prices, the number of subscriptions it sold increased.This is an example of elasticity.
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Quizplus · Accepted Answer

Elasticity refers to the responsiveness of demand or supply to changes in price. In this case, the increase in subscriptions due to reduced prices demonstrates price elasticity of demand.

When ABC Gifts Reduced Its Prices, the Number of Subscriptions