If both the supply of and the demand for a good are highly elastic, a shift of either curve will always result in
A) a decrease in price.
B) an increase in price.
C) a large change in quantity.
D) no change.

Question

Quizplus · Accepted Answer

When both supply and demand are highly elastic, a shift in either curve will lead to a significant change in quantity, as both buyers and sellers are very responsive to price changes.

If Both the Supply of and the Demand for a Good