If a ________ change in a price produces a ________ change in demand, then demand is said to be elastic.
A) small; large
B) small; small
C) large; small
D) large; large

Question

Quizplus · Accepted Answer

Demand is said to be elastic when a small change in price produces a large change in demand; it is said to be inelastic when a large change in price produces only a small change in demand.

If a ________ Change in a Price Produces a ________

If a Change in a Price Produces a