The degree of responsiveness of demand for a commodity to a change in its price is called ___
elasticity of demand
increase in demand
expansion of demand
none of these
Change in the demand of apples due to increase in its price is its ____ demand.
contraction
extension
increase
decrease
A slight changes in price causes an infinite change in demand is a situation.
unit elastic demand
perfectly elastic demand
perfect inelastic demand
more elastic demand
