The quantity consumed of a good is relatively unresponsive to changes in price whenever demand is:________
a) unitary.
b) inelastic.
c) elastic.
d) falling.

Respuesta :

When demand is elastic, the amount of a good consumed is comparatively resistant to price fluctuations. The answer is consequently elastic demand. When neither the quantity consumed nor the quantity desired changes in response to a change in price, there is an elastic demand.

What is  Elastic demand ?

Elasticity of demand is the extent to which demand responds to a change in an economic factor.

Price is the economic factor that is most frequently taken into account when calculating elasticity. Additional factors include the availability of alternatives and one's income level. Demand elasticity measures how it alters in response to shifting macroeconomic circumstances. When demand is unchanged by price changes, it is said to be inelastic.

Hence, Because when demand is elastic, the amount consumed of a good is relatively resistant to price fluctuations, the right response is option C.

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