Economics · Elasticity of Demand
When the percentage change in quantity demanded for a commodity is greater than the percentage change in its price, it indicates that the demand is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Unitary elastic
- 2Perfectly elastic
- 3Highly elastic✓
- 4Inelastic
Correct answer
Highly elastic
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