Answer:
D. Elastic
Step-by-step explanation:
Demand means the customer's desire to purchase goods and services and willingness to pay a price for specific goods or services.
Law of demand states that conditional on else being equal, as the price of a good increase, quantity demanded decreases and as the price of good decreases, quantity demanded increases.
From the options given,
1. Price elasticity of demand is a measure used to show the responsiveness of the quantity demanded of a good or service to increase in its price when nothing but the price changes.
2. Inelastic demand means when the buyer's demand does not change as much as the price changes.
3. Cross elasticity of demand measures the responsiveness of the quantity demanded a good to a change in the price of another good.
4. Elastic demand is when the price has a big effect on the quantity consumers want to buy
5. Break-even point is the point at which the cost and total revenue are equal.