When is demand said to be elastic
A) if the price of the good responds substantially to changes in demand
B) if demand shifts substantially when the price of the good changes
C) if buyers do not respond to changes in the price of the good
D) if the quantity demanded responds substantially to changes in the price of the good
Correct Answer:
Verified
Q3: When is demand said to be inelastic
A)if
Q4: When quantity demanded responds substantially to changes
Q5: When studying how some event or policy
Q6: When would demand for a good tend
Q7: If a good is a luxury,what would
Q9: What does inelastic demand mean
A)consumers hardly respond
Q10: What happens when the price elasticity of
Q11: In general terms,what does elasticity measure
A)how price
Q12: When quantity demanded responds only slightly to
Q13: When would demand for a good tend
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents