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Which product would have a low level of elasticity?

A. A product that sees rising demand as prices fall
B. A product that sees a major change in demand based on its price
C. A product that sees falling demand as prices rise
D. A product that has steady demand, even as prices change

Sagot :

GinnyAnsweridn

Final answer:

Elasticity in economics determines how demand responds to price changes. A product with low elasticity maintains steady demand regardless of price fluctuations.


Explanation:

Elasticity in economics refers to how responsive demand is to a change in price. A product with low elasticity would have a situation where the quantity demanded remains relatively constant regardless of price changes.

Therefore, in the given options, the product that would have a low level of elasticity is option D, which describes a product that has steady demand even as prices change.


Learn more about Price Elasticity of Demand here:

https://brainly.com/question/31293339


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