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In case of relatively more elastic, demand curve is:
  • a)
    Horizontal
  • b)
    Vertical
  • c)
    Steeper
  • d)
    Flatter
  • e)
    In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) Flatter
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
In case of relatively more elastic, demand curve is:a)Horizontalb)Vert...
Elasticity refers to the degree of responsiveness in supply or demand in relation to changes in price. If a curve is more elastic, then small changes in price will cause large changes in quantity consumed. If a curve is less elastic, then it will take large changes in price to effect a change in quantity consumed.
Community Answer
In case of relatively more elastic, demand curve is:a)Horizontalb)Vert...
C
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In case of relatively more elastic, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer?
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