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An elastic demand indicates that A. quantity demanded does not vary with changes in the price. B. relatively large changes in price are required to obtain a relatively small change in quantity demanded.
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An elastic demand indicates that A. quantity demanded does not vary with changes in the price. B. relatively large changes in price are required to obtain a relatively small change in quantity demanded. C. relatively small changes in price are required to obtain a relatively large change in quantity demanded. D. relatively large changes in quantity demanded lead to relatively large changes in price.

User Maditya
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14 votes

Answer:

C. relatively small changes in price are required to obtain a relatively large change in quantity demanded.

Step-by-step explanation:

An elastic demand indicates that relatively small changes in price are required to obtain a relatively large change in quantity demanded.

User BlueBright
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