the measure of how demand changes after price adjustments is called (a)elastic, demand (b)inelastic demand, (c)the law of demand, (d)consumer demand

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03-04-2016
Social Studies

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the measure of how demand changes after price adjustments is called (a)elastic, demand (b)inelastic demand, (c)the law of demand, (d)consumer demand

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Аноним Аноним · Answer 1 · 2016-04-12T07:05:22+02:00

Аноним Аноним

12-04-2016

The correct answer for the question that is being presented above is this one: (a) elastic demand. The measure of how demand changes after price adjustments is called elastic demand. The percentage change in quantity demanded is smaller than that in price. Hence, when the price is raised, the total revenue increases, and vice versa.

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