If the quantity demanded is very responsive to a price change, then the demand curve would be:
A) unit elastic.
B) elastic.
C) inelastic.
D) vertical.

Name: If the quantity demanded is very responsive to a price change, then the demand curve would be: A) unit elastic. B) elastic. C) inelastic. D) vertical.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

When the quantity demanded is very responsive to a price change, the demand curve is considered elastic. This means that a small change in price leads to a large change in the quantity demanded.

If the Quantity Demanded Is Very Responsive to a Price