If supply is elastic, which statement is true? Producers respond slowly to changes in demand.

It is easier to predict changes in demand.

Supply reacts strongly to changes in price.

Supply is unaffected by changes in price.

If supply is elastic, the true statement would be: Supply reacts strongly to changes in price.

For elastic products, an increase in price will become an incentive for producers to respond and increase its supply, while a decrease in supply will cause them to reduce it.