In measuring elasticity,as the value of e increases,the result is that any change in price causes a huge change in demand,resulting in a ____ relationship between price and demand.
A) relatively elastic
B) perfectly inelastic
C) relatively inelastic
D) perfectly elastic

Question

Quizplus · Accepted Answer

As the value of elasticity (e) increases, it indicates that demand is highly responsive to price changes, leading to a perfectly elastic relationship where even a small change in price results in a large change in demand.

In Measuring Elasticity,as the Value of E Increases,the Result Is