The degree to which quantity demanded changes after a price change is called elasticity of demand. a substitute good. a complementary good. consumer demand.

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Social Studies

Janiyah Alvarado

28 October, 16:43

The degree to which quantity demanded changes after a price change is called elasticity of demand. a substitute good. a complementary good. consumer demand.

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Nataly Delacruz · Answer 1

The degree to which quantity demanded changes after a price change is called elasticity of demand. It is the degree to which changes in a goods price affect quantity demanded by consumers and shows how sensitive the demand for a good is. If a change in price results in a big change in the amount supplied the demand is elastic.