contestada

Suppose that you are an orange grower. Would you expect the demand for your
orange to be more elastic or more inelastic? Why

Respuesta :

It should be noted that the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded.

It should be noted that an elastic demand simply means a situation whereby a change in the price of a good lead to a larger change in the quantity demanded.

In this case, the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded. For example, an increase in price will make the customers buy other fruits.

Learn more about demand on:

https://brainly.com/question/25585026

ACCESS MORE