If demand changes greatly with a small change in price, we say the demand is ________.
A) inelastic
B) variable
C) elastic
D) value-based
E) fixed
Answer: C) elastic
If demand changes greatly with a small change in price, we say the demand is ________.
A) inelastic
B) variable
C) elastic
D) value-based
E) fixed
Answer: C) elastic