Demand Is Said to Be Elastic If

question 143

Multiple Choice

Demand is said to be elastic if:

• A)the price of the good responds substantially to changes in demand
• B)the supply of the good responds weakly to changes in demand
• C)the quantity demanded responds substantially to changes in the quantity supplied of the good
• D)the quantity demanded responds substantially to changes in the price of the good

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Definitions:

Class Exception

A type of object in Java that represents errors or issues that occur during the execution of a program.

Subclasses

Classes that derive from a superclass and can inherit its properties and methods, potentially overriding them.

NoSuchElementException

An exception thrown in Java when one attempts to access an element that does not exist, often in the context of iterators.

Class Exception

A type in many programming languages, notably Java, that represents errors or issues that occur during the execution of a program.