Elastic demand is the type in which a change in price

Agricultural Science

JAMB 2013

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.

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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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Elastic demand is the type in which a change in price

Correct Answer: Option A

Explanation

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