Which of the Following Happens If Demand Is Elastic

question 14

Multiple Choice

Which of the following happens if demand is elastic?

• A) As price goes up,consumer demand changes.
• B) The competition between organizations reduces.
• C) Products will not have any substitutes.
• D) The purchasing power of the consumer decreases.

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Definitions:

Assumption

An accepted fact or statement taken for granted without proof, often serving as a foundational premise in reasoning or argumentation.

UI

User Interface, the means by which the user and a computer system interact, especially the use of input devices and software.

Simp

In internet slang, a term used derogatorily for someone who is perceived as overly accommodating or submissive to someone they are attracted to, often without reciprocity.

Assumption

A belief or statement taken for granted without proof, often serving as a starting point for further reasoning or argument.