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When demand is elastic, a thereisalowwillingnesstoshopelsewhere. b thereisasmallresponseinquantitydemandedwhenthepricerises. c thevalueforelasticityisgreaterthan1. d thevalueforelasticityislessthan1.

When demand is elastic,

a thereisalowwillingnesstoshopelsewhere.

thereisasmallresponseinquantitydemandedwhenthepricerises.

thevalueforelasticityisgreaterthan1.

thevalueforelasticityislessthan1.

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