contestada

In general, elasticity is a measure ofa. the extent to which advances in technology are adopted by producers.b. the extent to which a market is competitive.c. how firms’ profits respond to changes in market prices.d. how much buyers and sellers respond to changes in market conditions.

Respuesta :

jepessoa

Answer:

The answer is: D) how much buyers and sellers respond to changes in market conditions.

Explanation:

By definition price elasticity measures how much the quantity demanded or the quantity supplied of a good will change if the price of the good changes.

In more simple terms, elasticity measures how buyers (consumers) and sellers (suppliers) respond to changes in the price of a product or service (market conditions include the price of goods and services).

Otras preguntas