Elasticity measures the behavioral response of economic agents in a given situation.
Which of the following questions is likely to be answered using elasticity?
a) If a business raises it prices, will that have a large or small on demand?
b) If you get a pay raise, are you more productive at work?
c) If hot dogs go on sale, will it be sunny day?
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Home » Business » Elasticity measures the behavioral response of economic agents in a given situation. Which of the following questions is likely to be answered using elasticity? a) If a business raises it prices, will that have a large or small on demand?