Which of the following happens if demand is elastic?
A) As price goes up,consumer demand changes.
B) The competition between organizations reduces.
C) Products will not have any substitutes.
D) The purchasing power of the consumer decreases.

Question

Quizplus · Accepted Answer

When demand is elastic, a change in price leads to a significant change in the quantity demanded by consumers.

Which of the Following Happens If Demand Is Elastic