Elastic demand is the type in which a change in
price
A.
brings about greater change in quantity of goods demanded
B.
of a commodity leads to little or no change in demand
C.
leads to equal change in commodity demanded
D.
may not change the demand of quantity of commodity.
Correct Answer: Option A
Explanation
Elastic demand refers to a situation where the quantity demanded of a good or service changes significantly in response to a change in its price. This means that consumers are very responsive to price changes.
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