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Elasticity and Incentives

Question 8 • 2102320-Economics HONORS - Edgenuity Teacher

If the quantity demanded of a good does not change much when the price changes, the good is relatively .

Answer
A
inelastic
B
elastic

Explanation

When quantity demanded changes very little in response to a price change, demand is described as relatively inelastic. Elastic demand means quantity demanded changes substantially when price changes. Therefore, the good is relatively inelastic.

AI-written and checked against the verified answer.

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