A good is said to elastic when Select one: a. The quantity demanded is less responsive to a 1-unit change of price b. Price doesn’t respond to change in Qd. c. The quantity demanded is highly responsive to a 1-unit change of price d. The quantity demanded don’t respond to change in price

A good is said to elastic when Select one: a. The quantity demanded is less responsive to a 1-unit change of price b. Price doesn’t respond to change in Qd. c. The quantity demanded is highly responsive to a 1-unit change of price d. The quantity demanded don’t respond to change in price

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.2: The Demand Curve And Elasticity Of Demand

Problem 6R

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Question

A good is said to elastic when

Select one:

a. The quantity demanded is less responsive to a 1-unit change of price

b. Price doesn’t respond to change in Qd.

c. The quantity demanded is highly responsive to a 1-unit change of price

d. The quantity demanded don’t respond to change in price

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