It should be noted that a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.

<h3>How to explain the demand?</h3>

It should be noted that an elastic demand is one werr the change in quantity demanded due to a change in price is large.

Also, an inelastic demand is one in which the change in quantity demanded due to a change in price is small. When the formula creates an absolute value greater than 1, the demand is elastic.

Here, a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.

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1 year ago

Determine whether the following relation is a function. {(-6, – 8), (5, 1). (9.-4), (7,2), (15, 0)}

lidiya [134]

This relation is a function. None of the x-values repeat. Each y-value belongs to a specific x-value.

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3 years ago

Question 1<br> Which of the following statements is NOT true?

Olin [163]