When the price elasticity of demand for a good is very elastic, quantity demanded is to a change in price and the demand curve is relatively . Group of answer choices
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Ответ:
1. Responsive
2. Elastic
Explanation:
When the price elasticity of demand for a good is very elastic, quantity demanded is RESPONSIVE to a change in price and the demand curve is relatively ELASTIC.
This is because the price elasticity of demand measures the responsiveness of the quantity demanded to a change in price.
Consequently, as the quantity demanded changes, the demand curve then becomes relatively elastic, by shifting either to the right or left.
Ответ: