QuestionMay 25, 2025

Demand is said to be __ when the quantity demanded is very responsive to changes in price. elastic unit elastic inelastic independent

Demand is said to be __ when the quantity demanded is very responsive to changes in price. elastic unit elastic inelastic independent
Demand is said to be
__ when the quantity
demanded is very responsive to changes in price.
elastic
unit elastic
inelastic
independent

Solution
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Answer

elastic Explanation 1. Identify the correct term Demand is considered "elastic" when the quantity demanded is very responsive to changes in price.

Explanation

1. Identify the correct term<br /> Demand is considered "elastic" when the quantity demanded is very responsive to changes in price.
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