When is demand said to be inelastic
A) if the quantity demanded changes only slightly when the price of the good changes
B) if demand shifts only slightly when the price of the good changes
C) if buyers respond substantially to changes in the price of the good
D) if the price of the good responds only slightly to changes in demand
Correct Answer:
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Q1: If a good is a necessity,what would
Q2: What does the elasticity of demand for
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
Q8: When is demand said to be elastic
A)if
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
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