Answer:
<em><u>Elasticity is an important economic measure, particularly for the sellers of goods or services, because it indicates how much of a good or service buyers consume when the price changes. When a product is elastic, a change in price quickly results in a change in the quantity demanded.</u></em><em><u>The concept of elasticity for demand is of great importance for determining prices of various factors of production. Factors of production are paid according to their elasticity of demand. In other words, if the demand of a factor is inelastic, its price will be high and if it is elastic, its price will be low.</u></em>
Explanation:
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The competitive capability which relates to flexibility is the reason that Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers.
<h3>What is the
competitive capability?</h3>
Competitive capability relates to the unique ability possess by a company over other competitors.
In this case, the Gymtastic possess the competitive capability called Flexibility.
In conclusion, the competitive capability which relates to flexibility is the reason that Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers.
Read more about Competitive capability
<em>brainly.com/question/5319576</em>
Answer:
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