Question

Many new restaurants have opened in Collegetown in recent years. Given this change in supply, which type of demand curve would result in the largest change in the price of restaurant meals?

Answer 1

Answer:

elastic demand curve

Explanation:

Based on the information provided within the question it can be said that an elastic demand curve would result in the largest change in the price of restaurant meals. This is because this demand curve illustrates the large changes in prices as demand for the product or service either goes up or down throughout the years.